EUR/GBP Is Falling

After weeks of sideways consolidation and one brief and final move to the upside that did not even manage to break above the resistance at 0.9050 the EUR/GBP pair started dropping and broke below the support at 0.8630 which coincided with the (MA)89 indicator on the daily time-frame. The doji candlestick on the weekly time-frame had the expected result albeit after a significant delay. The pair is still very bearish and it is currently testing the next major level of support at 0.8600. Should the pair succeed in breaking below that support level it will likely continue moving to the downside towards the next major support level at 0.8200.