EURGBP has been in a downtrend since reaching the 0.841 level on the 24th of January. The price has been setting higher lows and lower highs since reaching this key zone. However the price has just fallen towards the support area of 0.83, which in the past has seen price increase from this zone. The RSI indicator on the 30m and 1hr time frame so very undersold levels which complies with our short-term long bias. The target of this trade is at the previous resistance zone (0.833) and above. The stop-loss area for this trade is located 500 points below the current level at 0.826.