EURGBP currency pair under the strong bearish pressure today after the price broke the long-term support level 0.84700 (which has been reversing the pair from the start of April as can be seen from the daily EURGBP chart below). The breakout of this support level accelerated the active impulse waves 3 and (iii) from the start of October. Given the strong daily downtrend and the powerful bullish sterling sentiment seen across the FX markets today – EURGBP currency pair can be expected to fall further toward the next support level 0.84000.