I still prefer the bearish bias here but the fact that the cross stayed reasonably well bid despite some Portugese bank jitters does suggest that the market might be a tad oversold?
I’d expect short-term support now to be very solid near .7900 and there may well be trailing stops topside above the market so a push towards .7980 later during European trade would not surprise.
I think this is one pair where we can be quite open-minded and trade both sides of the market.