The EUR/GBP pair has been trending downwards since the 25th of February 2016, with the sellers leading the price from as high as 0.7928 to as low as 0.0.7757.
on Tuesday, during the European session, the pair price rise from 0.7758 up to 0.7806. In the event that the bulls manage to overweigh sellers in trading volume and push the price above 0.7822, profit targets could be set at 0.7842 and 0.7862 respectively.
On the flip side, in the scenario where the sellers keep pressing the pair below 0.7757, the price could find support at 0.7707.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.