• EUR/GBP looks choppy, although the market is set continue its down trend in the short term.
  
  
• Rallies at this set of time should be taken as advantage for selling opportunities, but in the medium term the market condition should present a challenge to traders as both of these currencies are strengthening. 
  
  
• The market will more than likely be very volatile, and as a result traders should trade this pair with the caution.
  
  
• Currently the Greece concerns pulls Euro down against GBP with situation in Greece far from getting resolved.
  
  
• GBP has gained against major of is rivals as demand for GBP, as save heaven has increased.
  
  
• EUR/GBP has broken the support at 0.7133, it is  expected to test next support at 0.70924.
  
  
• To the upside, the strong resistance sits near 0.7222 (50% retracement level), a break above this level would take it to upside to next resistance level at 0.72568.

Recommendation: Go short below 0.71300, targets 0.71000, 0.70700, SL 0.71700

Resistance Levels

R1: 0.71841 (38.2% Retracement level)
R2: 0.72000
R3:0.7222 (50% Retracement level) 

Support Levels

S1:0.7133
S2:0.70924
S3:0.70616 (76.4% Retracement level)