EUR/GBP gains stall
Gains have stalled at the 50-day simple moving average (£0.8432), and with yesterday’s drop lower the advantage would seem to lie with the sellers. Further bearish pressure would suggest a drop down to £0.8344, the lows of early August.
With the pair currently oversold intraday, a bounce cannot be ruled out, although it will need to clear £0.85 to indicate real upward momentum is in evidence. Above this, £0.8563 and then £0.8650 would be the areas to watch.