The EURGBP trend line comes in at 0.84265
The EURGBP has corrected to the underside of the trend line on the 4 hour chart off a new low since May 7, 2017 earlier in the day. Now that trend line was broken last week, and failed a few times, before cracking lower on Friday. I will keep the original line, and it looks like the "market" is paying attention as well. The underside of the trend line comes in at 0.8427. The high for the day came in at 0.8426.
If the bears are to remain in control, staying below that trend line would be a close risk/bias defining level. If the line is broken, there by be some correction action, but remember, it is just a start. That start could fizzle. Looking at the weekly chart below, the trend has been more to the downside since the August high (that failed) as evident from the weekly chart below.
