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EUR/GBP slips below July lows as decline momentum builds

Societe Generale analysts say failure to reclaim the 0.8500 high could extend losses toward 0.8405 and 0.8370/0.8355.

Reported · Written up by our desk · Major Pairs

Societe Generale strategists, as cited by FXStreet, said EUR/GBP has continued to pull back after failing to clear the 0.8610 graphical hurdle tied to February and March troughs.

They added that the cross has slipped below July lows, reinforcing prevailing downside momentum.

The strategists warned that if EUR/GBP cannot reclaim last week’s 0.8500 high, the decline could extend toward 0.8405 and 0.8370/0.8355.

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