Having reached the 0.8505 mark during yesterday's European session, which corresponds to 13-month lows, the EUR / GBP pair remains under pressure due to fundamental factors (see "Fundamental Analysis and Market Expectations")
, which preserves the risks of its resumption of decline. It is likely that after the breakdown of the 0.8500 support level, the 0.8400 mark will become the closest target in case the EUR / GBP decline resumes.
More distant targets are located at support levels 0.8350, 0.8220.
So far, and below the resistance levels 0.8800, 0.8845, the downward dynamics prevails.
Trading Recommendations
Sell by market, Sell Stop 0.8490. Stop-Loss 0.8565. Take-Profit 0.8400, 0.8350, 0.8250
Buy Stop 0.8565. Stop-Loss 0.8490. Take-Profit 0.8574, 0.8634, 0.8740, 0.8800, 0.8820, 0.8845
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**) EUR/GBP: Current Fundamental Analysis and Market Expectations
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