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Daily technical outlook for EUR/GBP: Societe Generale

Quotes from Societe Generale Cross Asset Research: -After breaking below a multiyear trend line, EUR/GBP is extending the downtrend. Monthly RSI is breaching a graphical floor and the pair looks poised to drift towards 0…

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Quotes from Societe Generale Cross Asset Research:

-After breaking below a multiyear trend line, EUR/GBP is extending the downtrend. Monthly RSI is breaching a graphical floor and the pair looks poised to drift towards 0.7250/0.7160, the 61.8% retracement of 2000-2008 upmove and 2003 highs. Shortterm recovery, if any should be confined to 0.7550/0.76.

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