The EUR/GBP pair has been trending downwards since Thursday, the 24th of March 2016, with the sellers leading the price from as high as 0.7946 to as low as 0.7842.
Today, the pair price drop from 0.7901 to 0.7842, but at the time of writing the pair is trading at 0.7867.
In the event that the bears to overweigh bulls and manage to push the price below 0.07845, the price could find support at 0.7821 and 0.7792 respectively.
On the flip side, in the scenario where the buyers push the pair price up and the price breaks above 0.7882, profit targets could be set at 0.7906 and 0.7922 in extension.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.