- The euro slumped to an 8-week low against the British pound as investors digested UK's recent upbeat economic data.
- However, the downside appears limited as Investors remain anxious over British Prime Minister Boris Johnson's hard line in the talks.
- EUR/GBP is trading 0.2 percent down at 0.8374, having hit a low 0.8371 earlier, its lowest since December 17.
- Technical indicators are bearish: RSI weak at 37.99, MACD supports downside and Stochs are at oversold levels
- Immediate resistance is located at 0.8412, a break above could take it near 0.8423.
- On the downside, support is seen at 0.8353, a break below could drag it till 0.8331.
Recommendation: Good to sell on rallies around 0.8385, with stop loss of 0.8406 and target price of 0.8343.
