EUR/GBP chart - Trading View
EUR/GBP was trading 0.08% lower on the day at 0.8529 at around 06:30 GMT, further downside on cards.
The pair has been slipping lower for the 4th straight session after recovery attempts were rejected at 200-DMA.
Price action has shown a breach below daily cloud opening downside. Momentum studies are bearish.
Adding to the Brexit woes, UK Brexit Minister David Frost again warned EU over NI protocol, regarding the harsh rules for goods travel between the UK and the NI border.
Traders will pay close attention to the final reading of Eurozone September month’s Markit PMIs for short-term direction.
Technical bias remains strongly bearish. Little support seen till 0.8465 (trendline). On the flipside, retrace above daily cloud negates any further weakness.
