As the attached daily EUR/GBP chart shows, a break back below the 0.8800/30 region would see it move to retest the low at 0.8640 back on the 2/02/09. This is very close to the 100 day MA that we bounced 400 pts off last time, coming in at 0.8650 now.
I am of the opinion that we will head lower and retest 0.8650 in the coming sessions with a view to heading all the way back to 0.8400 if not 0.8200. The 200 day MA currently comes in around 0.8290 FYI.
