EURGBP has completed a five wave impulsive structure within a rising channel and is now correcting through a potential ABC pattern where wave a has already broken the internal trendline support and price is heading toward the lower boundary of the channel near the previous structural support zone market sentiment has shifted as risk-off flows increase due to concerns around global growth and potential rate cuts by the RBA while the Bank of Japan maintains its cautious stance technical rejection from the red supply zone marked by wave b adds confluence for continued downside and traders should monitor price action around the projected wave c zone for potential reversal signals aligning with fundamental shifts in risk appetite.