A strong opportunity to sell the EUR/GBP in the near term

The EUR/GBP pair has reached strong supply areas

on both the daily and 4-hour time frames.

The pair also entered a sell-off,

which pushed the pair sharply lower, breaking the uptrend

and forming new strong selling supply areas on the 4-hour time frame.

If the pair returns to the same areas from which it bounced

identified on the chart, located at the 0.87250 level,

it is expected to decline from there again to the targets identified on the chart,

located at the 0.87000 and 0.86600 levels.

If the pair rises, breaks through the supply areas, and closes above them,

the analysis and the expected decline for the pair will fail.