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EURGBP Remains Under Pressure

The euro struggles due to fears of a new round of covid lockdowns across the continent.

The fall below the daily support at 0.8400 has put the few buyers under pressure. A faded rebound suggests that the bears are still in control of the direction.

The RSI’s bullish divergence points to a deceleration in the sell-off. However, in the absence of confirmation, the current sideways action could be a mere consolidation. Buyers may remain cautious unless offers around 0.8435 get lifted. A break below 0.8380 may send the pair to 0.8300.

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