RBC Capital Markets predicts decline in euro / pound

According to currency analyst RBC Capital Markets, the European currency may drop to the level of 0.8236 against the pound, if on a daily closing below 0.8509. Yesterday, a pair of Euro / pound closed below initial support at 0.8571 - according to the bank, it is a signal to turn a pair of short-term bear. Such low closing set the stage for testing the key support line of a rising trend from October last year at 0.8509. The daily closing below this level will signal and bear testimony to the fact that the couple is seriously ready for the resumption of the intermediate down trend. The technical picture is also not in favor of the euro - Stochastics in the afternoon schedule gives signals bear divergence, suggesting the possibility of reducing the euro / pound. The daily closing below 0.8509, according to currency strategists RBC Capital Markets, will lead to a reduction in euro / pound to a minimum at 0.84 June, followed by 0.8331 and a minimum mark of 28 November at 0.8236. At this time, a pair of Euro / pound traded at around 0.8542.