FX.co ★ EUR/GBP

At the moment, the EUR/GBP currency pair continues to move within a descending channel, which indicates that sellers still maintain control. After an attempt to stay below the 0.8620 level, a pullback began. I expect that in the near term the price of the pair will move roughly in the range from 0.8630 to 0.8615. Right now, the 0.8615 level is the nearest support; if the price manages to break below this level, it could be one of the first signals that a move toward 0.86 is likely to begin, although a pullback may also occur. However, it is important to note that the price is currently above this point, so the priority scenario remains bearish.