EUR/GBP Breaks 0.8500 Support, Accelerates Minor Wave 3 Lower

EUR/GBP extended its decline on July 11 after breaking the key support zone at 0.8500, confirming an active minor impulse wave 3. The move follows the July 9 shift to a downside intraday bias that targeted the 61.8% retracement at 0.8466. Earlier, on July 8 the pair had turned neutral with upside capped at 0.8601 and a break of 0.8531 seen as the trigger for renewed selling. Analysts maintain that the broader rally from the 2024 low at 0.8221 ended at 0.8863, leaving the pair vulnerable to a deeper fall toward the 2022 low at 0.8201 while that high holds.