Societe Generale’s Kenneth Broux highlights that EUR/GBP has extended its decline after breaking a Head and Shoulders neckline at 0.8610, with the move now seen as stretched. The cross has dropped to a 0.84 handle, its lowest since June last year, a 4.5% fall since November.
Pi Network (PI) price continues to maintain a consolidative tone on Thursday, halting the prevailing declining trend near a descending support trendline around $0.0730. The announcement of the upcoming mainnet upgrade to the Stellar Protocol version 25 helps limit the selling pressure.
Ripple (XRP) and Stellar (XLM) trade higher on Thursday as both altcoins extend their recovery after defending key support levels earlier this week. XRP is up more than 2% so far this week, while XLM has rebounded after finding support around $0.177.