The single currency resumed its decline against the British pound on Tuesday, after brief consolidation, dropping to the 3-month's lowest level.
The EUR/GBP pair has been trending downwards, since the 6th of November 2015, testing the 0.7000 level, with the sellers leading the price from as high as 0.7196 to as low as 0.6982.
In the scenario that the price manages to break above the level of 0.7089, the pair could escalate up to 0.7190 and 0.7196 in extension.
Conversely, in the scenario where the sellers resume their downward activity and the price breaks below 0.6982, the pair could decelerate down to 0.6944.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.