The euro currency is looking increasingly bearish against the British pound as the pair traders towards the bottom end of its established eight-week trading range. The daily time frame shows that the EURGBP pair is approaching the bottom of a large triangle pattern. Heavy losses in the EURGBP pair towards at least the 0.8450 support area is possible if a break under the triangle takes place.
EURGBP pair is only bearish while trading below the 0.8580 level, key support is found at the 0.8520 and 0.8450 levels.
The EURGBP pair is only bullish while trading above the 0.8580 level, key resistance is found at the 0.8640 and 0.8710 levels