Forex: EUR/GBP downtrend poised to continue – TD Securities

FXstreet.com (San Francisco) - EURGBP extended another leg lower on Friday, falling to as low as 0.7828 from 0.7965 resistance earlier this week, set to record a 0.3% loss on the day and a 1.2% loss for the week. The cross last trades at 0.7840 ahead of the closing bell in New York, poised to shed ground for a fourth straight day.

"Daily trend momentum has turned bearish once again after moving to neutral/bullish last week," observes TD Securities. In addition, "Weekly price action strikes a clear negative tone with a bearish weekly 'dark cloud cover' signal forming this week. The correction high is complete and the downtrend is poised to resume."