EUR/GBP is about to finish the bullish correction started in the beginning of April. The correction was closed in the rising wedge formation (blue lines) and, two days ago, resulted in a downswing pushing the price below the wedge support. At the same time the top of the bullish correction is formed like a typical head and shoulders pattern (yellow rectangles). Currently, the price is just slightly below the neck line (red), so we cannot say that this is a definite sell signal yet.
Yesterday the price managed to defend the 61.8 Fibonacci line, which currently will be the closest support.
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The scenario stays negative due to the mid-term bearish trend. It will be denied once bulls manage to come back above the wedge support.