EURGBP currency pair for almost two months is moving south as a result of what we have already achieved the area of support levels 0.8878 and 0.8701. We are now in the vicinity of the upward trend line, the defeat could pave the way for further declines, even in the vicinity of the uptrend line or further to 0.8090.
Looking at the chart H4 we see that the upward trend line, which is currently tested coincides with the lows of last week. It should also be noted that the level of 0.8878 from three weeks has not been tested from the bottom (as resistance) which would argue for the rejection of the current support and starting a bullish scenario.
In the graph H1, we see that the market nearly three weeks moves in downward channel very precisely respects both the higher and lower limit of this formation. For a pro-growth scenario could be realized would be necessary prior upside breakout from the channel.
