The EUR/GBP has been in a sustained down-trend for a long time now. With a clear directional bias to the downside, we're looking for technical formations such as the current one. We have a clear impulsive move to the downside with big selling candles and almost no buying ones, followed by a more corrective move back to the 50% retracement level. Additionaly, we're looking at overbought levels on the slow . We're looking for confirmation in the form of a breakdown of the ascending price trend-line, the trend-line and the 50 .