EURGBP below Support Pivot Point

Pivot Points, according to marketkolor.com, assists in determining Support and Resistance levels. EURGBP has closed below it's S1 value. This suggests the price action has a strong tendency to the downside but could find support. However, look for sustained price action below this support level for confirmation of break and possibly further downside or a correction above support level. Don’t forget about positioning for the short! Stubborn longs persist in the short term!