EUR/GBP has broken the support at 0.8231, validating a short-term top formation. The implied downside risk is at 0.8168. Supports are at 0.8206 and 0.8190 (28/02/2014 low). The short-term technical configuration remains negative as long as prices remain below the hourly resistance at 0.8315.(03/04/2014 high) and key resistance stands at 0.8322. In the longer term, the failure to make any follow-through after the break of the resistance at 0.8350 (06/02/2014 high) calls for caution as prices remain below the declining 200 day moving average. A key support area stands at between 0.8168 and 0.8158. • EUR/USD has broken ... (full story)