© Dukascopy Bank SA
It seems that a massive sell-off did not manage to alleviate the downside pressure as EUR/GBP has a potential to continue moving to the south. The proportion of orders placed to sell the pair is 72.46%, implying that the sentiment is strongly bearish. Although the pair is expected to decline further, the bearish breakout is not likely to occur in the nearest future given the relatively large distance from the pattern's support.
© Dukascopy Bank SA