EUR/GBP Faces Downward Pressure Near Historic Lows

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The Euro has continued its decline against the British Pound, reaching a key support level at the October 1 and 18 lows. Despite a recent

The Euro has continued its decline against the British Pound, reaching a key support level at the October 1 and 18 lows. Despite a recent bounce, the overall trend remains bearish, suggesting a potential breakdown below the 0.8295 level.

Key Points:

  • Downward Trend: The EUR/GBP pair is in a downward trend.
  • Support Level: The 0.8295 level is a key support level.
  • Relative Strength Index (RSI): The RSI is relatively elevated, indicating a lack of downside momentum.
  • Historic Lows: Further losses would push the pair to historic lows.

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