Price falls below its 2019 low at 0.8471
The price of EURGBP has fallen to the lowest level since May 2017. The price fell below its 2019 low at 0.8471 in the last few hours of trading. The swing lows for 2019 at 0.8471 and 0.84876 are close risk levels. Stay below will keep the bears in control.
Staying on the weekly chart above, the next target on that chart comes in at 0.84105. That is the 38.2% retracement of the move up from the July 2015 low.
Drilling to the 4 hour chart below, there is a closer target at the 0.8439 level. That is a lower trendline connecting recent lows on that chart.
A break below the level will look toward that 38.2% retracement from the weekly chart at 0.84105
