The counter trend rally in EUR/GBP from Monday’s 20 month lows has been a limited one. In fact yesterday's highs, above .8000, were not maintained and prices closed for minimal net movement. While this clearly highlights uncertainty at current levels, it emphasises the weakness of the bounce.
Coupled with the continued hugging of the lower end of a declining Keltner channel, this means that intraday sentiment is negative with potential to retest this week's .7959 low or even .7942.
