The pair falls to lows not seen since 28 February

If the pair closes the day lower, it would mean that it has fallen in eight out of the last nine trading days - since touching the highs of the year.

Technically, the break of the 100-day (red line) and 200-day (blue line) MAs is a key indicator that the pair has turned bearish and when support at the 50.0 retracement level failed to hold, the drop is just continuing as we speak.

This is going to be a tricky pair to trade this week as there is all sorts of geopolitical developments going on for both currencies. The EU is embroiled in a trade wars rhetoric with the US over tariff implementations, while the UK has the Brexit transitional agreement to navigate as well (not forgetting there is the UK-Russia situation as well) - amongst other things for the sterling.

It won't purely play out on a technical basis so it's best to keep an eye out on related news.