• EUR/GBP extends pullback post-beearish key day reversal setup

• Rejection at the 200DMA also underpins the move lower

• Meanwhile, universal tariff risks are a bigger concern for EUR than GBP

• Door now open for a test of support at the 100-day MA (0.8345)

• Though, with the BoE due next week, 100D may hold on first test

• EU/UK yields have also narrowed recently (less EUR bearish)

• That said, the downtrend in EUR/GBP remains firmly intact
eurgbp daily chart


US trade balance

(Justin McQueen is a Reuters market analyst. The views expressed are his own.)