EUR/GBP Daily Outlook: Resuming Downward Trend as Support Breaks
Thursday, 11 July 2024, 07:02
EUR/GBP Daily Outlook
The EUR/GBP pair has broken below the crucial 0.8430 support level, signaling the end of the corrective recovery phase from 0.8396.
Rejected at the 55-day EMA, the pair's intraday bias has shifted towards a bearish outlook with a target at 0.8396 support.
Further downside movement is expected to resume the larger downtrend unless a significant break above 0.8459 occurs, which could alter the current bearish sentiment temporarily.
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