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EUR/GBP off recent lows but downside trend remains intact
Yesterday the current downside trend in the EUR/GBP remained in place and eventually that delivered a fresh interim low at 0.8613. I did note earlier in the day, that further downside ahead of the month end should not be ruled out and that is what transpired. The EUR/GBP later posted a monthly close at 0.8625. The continuation of the drop below the 200 day moving average is now turning that lower and also turning the 50 day lower too. That is now falling closer to reversing an earlier rise above the 200 day moving average. The 50 day is right now at 0.8686 and the 200 day is now at 0.8676. The price has also remained below the 100 day moving average since the US close and that is in place right now at 0.8640. The high seen earlier today has been set at 0.8634. The low has been set at 0.8619. It is currently trading at 0.8630
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