EUR/GBP Technical Analysis: Under pressure with RSI violating rising trendline

• EUR/GBP is currently trading in the red below 0.8650 and may suffer a deeper drop toward the 50-day moving average (MA), currently at 0.8609, as the 14-day relative strength index (RSI) has dived out of the rising trendline, signaling the end of the pair’s corrective bounce from the March 13 low of 0.8472. 
• Also note that the pair dropped 0.33 percent yesterday, validating indecision, signaled by the doji candle created on Tuesday. 

Daily chart

Trend: Bearish

Pivot points