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EUR/GBP – 23.6% of 2015 – 2016 rally retraced

FX:EURGBP   Euro Fx/British Pound
The currency pair is trading well below 0.8684, which is the 23.6% Fibo retracement of the rally from 2015 low to 2016 high.

The Daily RSI and the MACD favor further losses.

Thus doors remain open for a drop to 38.2% retracement seen at 0.8349. On the way lower the pair could find some respite around 0.8556 (38.2% of 0.6535-0.9805).

Short-term bearish invalidation is see only if the pair closes above 0.8684 levels.
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