EUR/GBP is holding steady after extending the decline from the 0.8395 reaction high to breach the 0.8284 swing low (19th March). • While we could see some corrective activity over the short-term the overall tone remains heavy while resistance at 0.8358/0.8395 caps with the downtrend targeting support at 0.8222 initially in due course. • Settlement back above 0.8358/0.8395 from here would be positive suggesting scope for a re-test of the swing high at 0.8506, above which would be positive having formed a medium-term base pattern. (full story)