EUR GBP declined during European session
10/21/2016 12:43:51 PM
After Thursday's ECB-led unstable move, the EUR/GBP cross restarted with its near-term corrective slide and dipped below 0.8900 handle to a fresh 2 week low during early European session. The pair on Thursday jumped back above 0.9000 psychological mark, recovering all of its lost ground since the beginning of this week.
On a constant decline below 0.8900 handle, the cross appears at risk to fell towards 0.8850 horizontal support before expanding its slide more towards sub-0.8800 support near 0.8780 region. In the meantime on the upside, 0.8925 level now becomes immediate persistence, which if cleared appears to lift the cross towards 0.8975 horizontal persistence before the pair makes a fresh effort to reclaim 0.9000 psychological mark.