The euro currency has staged a big drop against the British pound after running into hard resistance around the 0.8660 level earlier this week. Bulls failed to move the EURGBP pair back inside a clear technical breakout from an ascending triangle pattern. According to the overall size of the pattern the EURGBP pair could be preparing to drop towards the 0.8535 price area at a minimum.
The EURGBP pair is only bullish while trading above the 0.8660 level, key resistance is found at the 0.8680 and 0.8700 levels.
EURGBP pair is only bearish while trading below the 0.8660 level, key support is found at the 0.8580 and 0.8535 levels.
