Standing in the way of and going against a top i-Bank analyst…
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EUR/GBP has sold off to the 0.8471 long-term pivot, this is currently being eroded. A break below here would imply a slump as low as the 200-month moving average at 0.8142.
Failure at 0.8471/65 on a closing basis would target 0.8314/.8239 as well as the 200-month moving average at 0.8142.
Initial resistance is the 20-day ma at 0.8542 and the 55-day ma at .8571 and the market will remain on the defensive while capped here.
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