EUR/GBP has retreated for a second consecutive day, owing to fresh weakness from recent highs and increasing fears based on the potential imposition of 200% tariffs on European wine imports. Market sentiment is wavering as traders consider the impacts of these threats on the economy and currency movements. A clear close below vital support levels is necessary for a reversal signal to be confirmed. Traders should remain cautious and vigilant as they navigate through these shifting dynamics, particularly with the looming tariff threats affecting market stability.