EUR/GBP Price Action Analysis - bearish Dark Cloud Cover candlestick pattern

W1 price is located below 200 period SMA and 100 period SMA for the primary bearish with secondary ranging between Fibo resistance level at 0.7492 and Fibo support level at 0.6934:

• The price is crossing 61.8% Fibo support level at 0.7148 from above to below for the bearish trend to be continuing.
  
• "The Euro corrected modestly higher after swiftly sinking to the lowest level in over two months against the British Pound. Prices reversed downward as expected after putting in a bearish Dark Cloud Cover candlestick pattern."
• "Near-term support is now at 0.7145, the 61.8% Fibonacci retracement, with a break below that on a daily closing basis opening the door for a test of the 76.4% level at 0.7063."
• "We sold EUR/GBP at 0.7325 and have since taken profit on half of the trade. The rest of the position continues to be in play to take advantage of further weakness ahead. The stop-loss has been adjusted downward to the breakeven level."
  

Trend:

• W1 - bearish
• MN1 - bearish reversal