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- EUR/GBP stalled its corrective slide near 55-EMA support by 0.8383.
- Trades rangebound on the day as markets await UK construction PMI data.
- The pair bounced off lows at 0.8387 on Thursday's trade and is currently at 0.8427.
- Our previous call (http://www.econotimes.com/FxWirePro-EUR-GBP-slips-below-085-handle-bias-lower-good-to-sell-rallies-270787) has achieved all targets.
- Techs are still biased lower, break below 55-EMA to see further downside.
- Major support levels - 0.8383 (55-EMA), 0.8344 (Aug 4 low), 0.83 (double bottom and psychological level).
- Major resistance levels - 0.8468 (50-DMA), 0.8481 (5-DMA), 0.85.
Recommendation: Good to sell breakout below 0.8383, SL: 0.8440, TP: 0.8345/ 0.83/ 0.8250
