• EUR/GBP extended its downtrend on Monday, declining by 0.50% to 0.8335.
• The breach below 0.8350 marked a low since April 2022.
• The RSI has entered the oversold territory, while the MACD signals increasing bearish momentum.

The EUR/GBP pair continued its downward streak on Monday, declining by 0.50% to 0.8335, its lowest level since April 2022. The selling pressure remains relentless, and the technical indicators signal a negative trend, supporting the bearish outlook.

On the daily chart, the Relative Strength Index (RSI) has entered the oversold territory, with a value of 28. This sharp decline indicates that selling pressure is rising. The Moving Average Convergence Divergence (MACD) histogram remains red and rising, also suggesting increasing bearish momentum.