EUR/GBP: Key Support at 0.8230 Could Trigger Uptrend
The EUR/GBP pair has been falling steadily and recently reached 0.8230, its lowest point in over 3 years. The last time the price touched this level was in March 2022, which marked the start of a strong upward trend. This makes 0.8230 an important support level where the price could bounce back.
We believe this could be the beginning of a uptrend, and we're aiming for two key targets:
1. First Target (TP1): 0.8445
This is the first resistance level where the price might pause.
2. Second Target (TP2): 0.8610
If the first resistance is broken, this is the next level we expect the price to reach.
Watch the price closely around 0.8230. If it starts moving up, that could confirm the trend change. Consider setting a stop loss below 0.8230 to manage risk while targeting the levels mentioned above.
We believe this could be the beginning of a uptrend, and we're aiming for two key targets:
1. First Target (TP1): 0.8445
This is the first resistance level where the price might pause.
2. Second Target (TP2): 0.8610
If the first resistance is broken, this is the next level we expect the price to reach.
Watch the price closely around 0.8230. If it starts moving up, that could confirm the trend change. Consider setting a stop loss below 0.8230 to manage risk while targeting the levels mentioned above.
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