Price has been in a consistent short-medium term downtrend. All signals are pointing to continued bearish momentum on this pair. My next zone of interest is the PRZ as shown on the chart. If price follows the rules of the Harmonic pattern in place, then there should be a very good potential setup for a bullish run.
More downside expected on EURGBP as last weeks candle was a BEARISH Maribuzo. With the H4 200 sma and the DTF 200 both together, it would take something quite remarkable for the BULLS to defeat this level (.8622) and the path of leat resistance is clearly down. Oversold on H1 means we cannot rule out a bounce from these levels but any pullbacks are an opportunity to SHORT.