EURGBP is heading towards the support line of a Channel Down and could reach this point within the next 8 hours. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.
Because EURGBP formed a Channel Down pattern, we expect it to touch the support line. If it breaks through support it may move much lower
