EUR/GBP extended its decline after breaking the July low and is now testing the lower boundary of a multi-month descending channel. The cross is probing a potential support zone around 0.8370/0.8355, with price action remaining below the 0.84 handle.
Key Support Levels In Focus
The cross is probing a potential support zone around 0.8370/0.8355, with price action remaining below the 0.84 handle.
Resistance And Downtrend Risks
Any near-term rebound would face an initial hurdle at 0.8430, which marks the week’s earlier high and first resistance. Failure to clear that level would leave the downtrend intact, reinforcing downside pressure. The pair also posted an inside day while staying under 0.84.
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