FxWirePro: Flash Euro-zone PMI prints fail to impress euro bulls, EUR/GBP slips below 0.86 handle

• Flash euro-zone PMI data released earlier failed to impress EUR bulls. On the other side, Great Britain CBI Trends failed to provide evidence of post-Brexit economic fallout.
   
• A broad-based recovery in the sterling and a muted euro have triggered a near-term corrective move in EUR/GBP.
   
• EUR/GBP is now correcting over 100-pips from a multi-month high level of 0.8725 hit in the previous week.
   
• The pair has slipped below 0.86 handle to hit session lows of 0.8588.
   
• Price action on the day is capped by stiff resistance by 10-DMA at 0.8628, while downside finds support at 20-DMA by 0.8536.
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Recommendation: Short break below 20-DMA at 0.8536, target: 0.8468/ 0.8353/ 0.83