EUR/GBP is living dangerously eyes below 0.8400

FXstreet.com (London) - EUR/GBP is living dangerously, having breached the 0.8400 handle to the downside and remains in offered territory at 0.8414 currently.

Bulls might be cautious in the EUR/GBP here and as Garther Berry at UBS puts it. “…we believe downside in the cross remains the favoured channel to express a cautious view on the effectiveness of the BoE's forward guidance. On a 3m basis GBP remains the best-positioned currency in G10”.

EUR/GBP levels

The 20 DMA .8513, 50 DMA is .8583, the 200 DMA is .8492. RSI (14) reads 43.32. Supports are ascending from .8326, .8355, .8364, .8392. Spot is currently .8414 while resistances are .8466, .8488 and .8505