EUR/GBP to extend its slump towards the 0.8385 mark – SocGen

For EUR/GBP, the close below 0.8450 on Friday is technically significant. Economists at Société Générale are pointing towards persistence of downward momentum with next support seen at 0.8385.

EUR/GBP to edge lower towards projections of 0.8385

“Holding below 0.8550, EUR/GBP could head lower towards projections of 0.8385.”

“Lower band of the consolidation zone since 2016 at 0.8300/0.8270 and 0.8200 are next significant support levels.”