On the one-day chart of the EUR/GBP cross rate, the price continues to fall after it settled under the MACD indicator line. The Marlin oscillator is falling in negative territory. The technical potential is more than enough for the price to reach the target level of 0.8571, which is the October 28 low. This level is also very close to the low of September 6.
Surpassing the target level of 0.8571, in line with the decline in the descending price channel, opens up a great prospect of falling to the embedded channel line near 0.8407, which is the August 24 low. Finally, the Fibonacci chart gives us a third medium-term target at 0.8339, which is the point where three lines overlap at once: the 9th Fibonacci time period, the embedded price channel line, the low of August 2, 2022.
The four-hour chart warns that the price could possibly correct from the nearest level at 0.8648, as the Marlin oscillator has gone sideways. Settling below 0.8648 can push the EUR/GBP pair to fall.
