EURGBP below the resistance level of 0.7975 at H1 chart

Last week, the EURGBP found resistance near the 0.7935 level and now the pair is consolidating below the daily pivot point level of 0.7915.

The next target for the bearish EURGBP road is the support level of 0.7898. If the pair manages to make a breakout at that level would be expected to fall to the support level of 0.7887. Notably, the EURGBP still remains below the 200 day moving average, so the bearish outlook remains alive.

The RSI indicator is negative territory and pointing upwards, while the MACD indicator is in neutral territory.

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