• The 50 EMA and the 20 EMA are looking lower, which adds further to the downside filters.

• As investors add offers to the pullback, the RSI (14) sensed resistance at 60.00.

Potential offers have been attracted to the EUR/GBP pairing, which is close to 0.8325. This price is near the highs of Tuesday's trading session and the lows of Mondays and Fridays. It has been tested twice in trading sessions before the level of 0.8325 was established. The resistance is also represented by the trendline that was drawn from Monday's high of 0.8352.

After testing the lows at 0.8311 twice Monday, the cross has been positive in the Asian session. EUR/GBP failed to surpass the 50-period Exponential Moving Averages (EMA) on Monday. This has supported bears to continue their strength. The bearish outlook is reinforced by the 200-EMA and 50-EMA.

The Relative Strength Index (14) senses resistance at 60.00. This indicates that investors are using the pullback as an opportunity to make new offers. However, weakness is still present.

For further weakness, bears will need to push EUR/GBP lower than Monday's low of 0.8313. Supports may be found near the January 20th lows of 0.8305 and February 03th lows of 0.8284, respectively.

EUR/GBP could rebound if it can break 0.8325 on Monday's upside. This could push the cross higher than Monday's average of 0.8337 or its high at 0.8352, respectively.