- On the weekly and the 3-day chart, the pair is in an uptrend. The week starting July 11th was negative in EUR/GBP , but four out the next five weeks were rallies. The uptrend is well intact, and the July high has been taken out.
- On the the pair printed a red candle that caused bulls to pause and bears to rejoice but since then the price has not moved. After rallying last week it's plausible that the pair is taking a breather before the next advance.
- British retail sales released on Thursday, and I believe they will be taken negatively by the market.
- Next week's British GDP second estimate will probably revise the initial estimate lower pressuring the Pound
- Next week's German IFO Business Climate report is likely to be positive. Since the February low business conditions have been improving according to this report.
- .9300 is a likely target if .8700 breaks.