Looking from the top down, 0.8 is I think potentially long term downside support, but until 0.85 it will be of interest to take it long after multiple rejections back up to 0.87. I think this week we will consolidate around the current zone in yellow and that we will be able to take advantage of a break out to either side. Preferably the downside. For this reason, we favor a bearish bias for EUR/GBP this week. As always feel free to ask questions and post your charts.
