EURGBP amid negative outlooks – Technical Analysis – 17-11-2015

The EURGBP pair continued to decline recently moving within descending channel, falling under the negative pressure of the moving average 50, besides settling below 0.7060 key resistance, these factors form additional pressure on the coming trading, especially with the negative relative strength indexes signals.

Thus, we expect more decline as long as the price is below 0.7060 resistance, targeting 0.6945 support level mainly.