EURGBP closed lower in the short term and intraday levels trading, after the pair breached the support of that price channel previously, which limited the pair's previous medium-term movements as shown in the attached chart, leading it to trespass the SMA for the last 50 days period, doubling the negative pressures on the pair's next movements, as the pair seeks a bottom to buoy it higher and keep up the main upward trend in the medium and long terms.

Therefore we expect more losses to come for the pair, targeting the support of 0.7720 a a first line of defense to meet it.

Trend Bearish