Monday’s rejection of the 13 day moving average and a Marabuzo line translated into stronger selling. This took EUR/GBP to the lowest levels since mid-June and although intraday signals for sentiment are at oversold extremes there is no sign yet of anything other than temporary, limited, bounces especially with the daily Keltner channel clearly trending lower.
June's 0.7959 low is the key objective with a move through that point then exposing sentiment through 0.7942 to 0.7914.