On the daily chart of the EUR/GBP we see the first initial signal of weakening of uptrend. We mean breaking the trend line. Upward movement is so strong that initially it’s only a signal to develop a correction. Currently, the price hovers at the last low of the trend, only breaking below that level should trigger further declines, and the next goal should be support at 0.8720.
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On the H4 chart the last month looks bearish. The trend line was broken with high dynamics, and after this impulse increases were very poor, typical for correction. Price bounced from local resistance and is now probably going to recent lows. It is worth watching the graph, as the drop below 0.8855 could mean the development of downward wave.
