EURGBP’s Downside Drive: A Deeper Dive

In recent trading sessions, EURGBP has furthered its downward movement, plunging from 0.8714 to a new low at 0.8546 which notably breaks below the 0.8548 support level.

Judging by the current trend, we could expect to see an extended slump in the coming days. The next target level could well be at 0.8530 and if the downtrend continues, it might descend towards the 0.8500 mark.

On the flip side, an immediate resistance has been spotted at 0.8570. Should a break occur at this level, the course could shift substantially, pulling the price back to challenge the key resistance of 0.8592. Only a break of this level could potentially ring the bell for the end of the prevailing downtrend.