A sequence of 3 positive weeks for EUR/GBP ended in the last 5 days. Instead the strong upside rejection seen the previous week was extended last week.
That decline was not extensive, as all trading was confined within the preceding parameters – and the last 3 trading days saw consolidation around the Marabuzo line created Oct 13th.
This price action does not supply strong signals for sentiment but a close near the lows and beneath the Marabuzo line and average keep the focus on the downside targeting .7851 and .7807.
