EURGBP has sustained its retreat from the previous 0.8714 level to a recent low at 0.8520. The downward momentum is anticipated to continue as long as the price remains anchored below the descending trend line visible on the 4-hour chart.
Going forward, the next target is sighted at the round figure of 0.8500, with the subsequent focus shifting to the 0.8470 region.
In contrast, immediate resistance is found along the descending trend line on the 4-hour chart. Should the pair manage to stage a breakout above this trend line resistance, market direction could alter, bringing the price back towards the 0.8592 level.