EUR/GBP Is Falling

EUR/GBP was already quite bearish after forming a double top at 0.9305 and a shooting star candlestick at the same level on the daily time-frame, but the fundamentals that came out of the Bank of England today, namely that it is keeping the interest rate at 0.25%, pushed the pair even further down. It broke out below 0.8930, which is the (MA)89 indicator on the same daily time-frame with ease, and continued falling. The pair is currently at the support at 0.8870 and it will likely break out below that level as well. Should that happen the move to the downside will probably continue, and the next major target will likely be around 0.8460, which is the (MA)89 indicator on the weekly time-frame.