The downward bias continues in the EUR/GBP pair and we should look to see if there is follow through coming the rest of the week. $EURGBP, Eur/Gbp / 240 The pair broke below the 0.8325 support area New Year's Eve and has turned that support into resistance throughout the last week and a half. The pair is also conforming quite well to a downward sloping resistance trendline which was tested yesterday and held. Lastly, we had a pierce through new support near 0.8270, which is where the pair finds itself prior to the Wednesday NY morning. While there may be some initial pullback following this test of support, its another indication that the GBP may be ready to make further inroads against the EUR. At the moment a "sell any rallies" strategy might be appropriate.