EUR/GBP steps back from long-term lows

This "news" wants to persuade us that "The pair has bounced from here but is struggling with the October low at 0.8402, even as bearish momentum has eased. A weak close and sustained move below this level is needed to convince bears to add to their positions...."

Simply, this is NOT NECESSARILY TRUE!

We cannot EVER know how the MMs will move prices next, but we can be reasonably sure that SM will "Buy low, sell high!" So, if SM has gone short at the local highs again, how low the price will go will depend on where SM has also placed their orders to the MMs to "BUY TO CLOSE SHORTS!" We should at least realize that the only bears that count....Smart Money....may ALREADY BE IN and simply waiting for the MMs to drop the price to fill their orders to CLOSE THEIR SHORTS!.......HTMRW.

In other words, the chess move by SM has already taken place. No need for "sustained move below" to convince bears of anything! The MMs, in their own timing, will do SM's bidding.......HTMRW. We should be alert to not fall victim of bias cleverly caged in "news".