Outlook for EUR/GBP

RBS notes in a report on Tuesday:

• The pair has broke below my main target of 0.7152, implying further downside to 0.7004 and 0.6885 after a bullish correction towards the former channel and 0.7390 resistance level, as the weekly 12/26/9 MACD remains bearish.
  
  
• Therefore, I think the near-term will see a recovery somewhere to the area of 0.7300 / 0.7390 followed by a continued downside pressure for 0.7004 and ultimately 0.6885 targets.
  
  
• SUP: 0.7151 0.7004 0.6885; RES: 0.7300 0.7390 0.7500