EURGBP inched lower as planned
Wrote yesterday, “EURGBP still aiming to inch lower” depending on all negative signs appeared over daily studies and we should have been able to clear 0.7200 psychological.
The EURGBP pair has moved aggressively to the downside after clearing the previously mentioned support, which acts as an interim resistance.
Actually, RSI14 faces a momentum support, but we do believe that, it will breach it due to the strength of the bearish trend appearing clearly on Aroon.
All in all, the bearishness remains favored over intraday and short-term basis and a breakout below 0.7135 –Fibonacci of 76.4%- of the last upside wave from 0.7055 to 0.7389 will accelerate.
Finally, traders can now move their stop loss to the entry point.