EUR/GBP Remains Bearish

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The EUR/GBP pair has continued its downward trend, with the price falling further towards the 0.8400 level. The Relative Strength Index (RSI) is heavily oversold,

The EUR/GBP pair has continued its downward trend, with the price falling further towards the 0.8400 level. The Relative Strength Index (RSI) is heavily oversold, indicating potential for a rebound. However, the MACD is showing bearish momentum, suggesting a continuation of the downtrend.

EUR/GBP Technical Outlook

The EUR/GBP pair is facing strong selling pressure, with the 0.8400 level acting as a key support. A break below this level could signal a further decline towards the 0.8380 area. However, if the pair can hold above 0.8400, the bearish momentum might lose steam, and a short-term correction could be possible.

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