The EUR/GBP cross is continuing its decline after facing difficulty in surpassing the important resistance level of 0.8500. According to Societe Generale FX strategists, the cross may continue to move downwards towards potential support levels at 0.8380/0.8370, with further projections at 0.8340 and 0.8280.
Despite initial bounces, 0.8500 is expected to remain a key resistance level for the EUR/GBP cross. Failure to hold above 0.8380/0.8370 could lead to further declines towards the mentioned projections. Traders should keep a close eye on these levels for potential movements in the EUR/GBP cross.