EURGBP currency pair recently reversed down from the resistance area located between the powerful resistance level 0.84550 (which has been reversing the pair from December), upper daily Bollinger Band, and the 61.8% Fibonacci correction of the downward impulse 3 from December. The price is currently forming the daily Bearish Engulfing.
With the strongly bearish sentiment affecting the euro today, EURGBP currency pair can be expected to fall further toward the next support level 0.83650 (low of wave (a) from the start of this month).
