• EUR/GBP is falling towards its next downside target at the July 8 low. 
• The pair is in a short and medium-term downtrend with odds favoring a continuation. 

EUR/GBP is steadily falling step-by-step in a short-term downtrend that began after the pair filled the gap created on June 10 and rolled over. Given “the trend is your friend” it will probably continue. The medium-term trend is also bearish after the break below the trendline in late May.

EUR/GBP 4-hour Chart 

The next stop lower is 0.8431 (July 8 low), and a break below that would provide added bearish confirmation of an extension of the downtrend lower to the next target at 0.8399, the June 14 low.