EUR/GBP has almost filled the French election-related gap. Though overall it looks bearish and usually we'd go with an estimate of trying the lower down channel below 0.83, based on current GBP strength and the expected EUR strength we'll go with a more bullish but limited view seeing the pair going again for the 50% fibonacci level at 0.845 as seen in the daily chart.



Based on the estimation that the pair will remain relatively subdued due to the snap elections in June 7th we'll not go for a high price level. Price target then will be based on the weekly chart and placed at the 50% fibonacci level at 0.8492.

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