Hello.
The EUR/GBP seemed to be a currency of interest so let’s head back to that particular pair and see what has unfolded thus far. You can refer to our post on this pair from October 6 here.
Although the long term remains potentially bullish, we can’t ignore the steep down movement we’ve seen in the past week.
If this pair retraces back up, look for it to test the .9220 - .9280 area.
The key price level you’re watching for is the recent low of .9114. If it closes below that then breaks away, then look for a continued movement down before any type of retracement bounce back up.
Happy trading.
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