The high of 11th Feb (.7897) has just gone and this lies in a known . Also we have the 200 on the Weekly charts just above at .7937 and the A - B is one that goes back to the start of 2000. Depending on how you draw this line the price is either above or below the line so its clearly still in play.
With the GBP still under pressure the risk is for further EUR/GBP strength but the pair may find it tough going with selling pressure building.
I'm looking to short this pair on a return and break of the 200 on the 1 minute time frame which coincides with today's open.
SHORT from .7892. STOP .7910. Target to be decided.