EURGBP, Time frame: 1DEURGBP, Time frame: 1D

EUR/GBP has broken below the rising wedge that developed from the July low. After repeatedly struggling to clear the 0.8603 resistance area, price turned sharply lower and broke through the wedge's rising support line, weakening the recent recovery structure.

Selling pressure accelerated after EUR/GBP moved below 0.8533, which had acted as an important support level during the consolidation. This level now becomes the first technical hurdle above price if the pair attempts to recover.

Price Moves Into Key Support

EUR/GBP is now trading around 0.8462, directly inside the highlighted 0.8450–0.8470 support zone. This area is significant because it sits close to the July swing low, where buyers previously stepped in.

Below this zone, 0.8420 becomes the next major support level.

RSI Shows Stretched Momentum

RSI has fallen to approximately 24.5, placing momentum firmly in oversold territory. This confirms the strength of the recent selloff, but also shows that the move has become increasingly stretched as price reaches support

Summary

EUR/GBP has broken below its rising wedge and lost 0.8533 support, accelerating the decline into the key 0.8450–0.8470 support zone. RSI near 24.5 reflects strong but stretched downside momentum. The pair is now testing an important area where buyers previously emerged, while 0.8533 becomes the first major resistance level on any recovery.