The sterling edged higher after Britain’s December CPI exceeded expectations.
The euro has struggled to lift offers around 0.8375 after a two-week-long consolidation. The subsequent break below 0.8340 has forced buyers to bail out, exacerbating the bearish mood. This former support has turned into a fresh resistance.
A bearish MA cross indicates an acceleration to the downside. The pair is now heading towards February 2020’s lows near 0.8290. An oversold RSI may cause a limited rebound.
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