EUR/GBP broke a key technical level in trading overnight
The pair's close below the 61.8 retracement level on the daily chart opened the floodgates to further selling (sterling buying).
The support level was one that held on multiple occasions since last year, and failure to hold this time around means that the pain is just beginning.
The next key level of support to look out for is the 76.4/23.6 retracement level @ 0.8548, but in between expect the psychological level @ 0.8600 to also be a key area of interest for bids.
Other than that, it's quite a fall towards the 0.8300 levels with only further psychological support levels at 0.8400 and 0.8500 along the way.
