By FXEmpire.com

The EUR/GBP pair fell on Monday, breaking through the lows and a hammer made last week. The pair is certainly in a downtrend, and the troubles in the European Union will more than likely continue to weigh upon the pair. The British Pound had a strong day in general, and as such this move shouldn’t have been a surprise. The pair should continue to sell off over time, and as a result we are currently selling it aggressively. The breaking below of the hammers of last week suggests that we are going much lower. We sell rallies, and new lows – aiming for the 80 handle.

Click here to read EUR/GBP Technical Analysis.

Originally posted here