EURGBP could not find enough buyers to print a new higher high above July’s peak of 0.8700 last week, pausing its latest upleg lower at 0.8668. Unfortunately, the bears are currently trying to push the price below the short-term bullish channel and the 50-day SMA, which previously prevented a drop below 0.8585. The downward trajectory in the momentum indicators is endorsing the negative momentum in the price, though only a decisive close below the previous low and the 61.8% Fibonacci retracement of the 0.8200-0.9249 upleg at 0.8535 would shatter hopes for a bull market. If that proves to be the case, the door will ... (full story)