On the EURGBP daily chart price oscillates in a consolidation area. You can see that quotes test psychological support level of 0.8450. Previous tests of this area were characterized by increased demand activity.
It’s worth looking at a chart with a lower time interval.
H4 chart shows advantage of supply. Price is moving down in downward channel and moving towards support at 0.8450. The emergence of PA’s bullish formation will increase the probability of correction of recent declines. Close resistance is around psychological level of 0.8500. Breaking the level of 0.8450 will open way to further declines.
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