The $uros to poundsrency pair continues to tiptoe lower as the rate slides towards the 0.84 price point where the current support level lies waiting.  With the 9 day moving average now crossing below the 40 day moving average this is adding to the bearish tone and should we see a breach of the 0.84 level in due course then this will signal a much deeper move even down as far as 0.80 in the medium term, so plenty of trading opportunities in this pair.  With the release of the BOE interest rate decision, just announced, where rates were kept on hold, this has now provided an excellent opportunity to enter sell orders for a longer term trend lower.  Very shortly we will also have the ECB rate decision and statement which again should bring some much needed volatility to the pair.

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