EUR/GBP breaks 0.8861 support in European, as recent decline resumes. The development now suggests that corrective recovery from 0.8670 has already completed. The pattern from 0.9499 has resumed with a third leg. We’ll see if EUR/GBP would sustain below 0.8861 to confirm. In that case, next near term target would be 0.8670 support. There is prospect of even deeper decline to 100% projection of 0.9499 to 0.8670 from 0.9229 at 0.8400.
