EUR/GBP is currently consolidating between critical technical levels, with price action centered around 0.8360-0.8361. The pair recently bounced from support at 0.8346 but appears to be facing resistance at the 0.8367 level.
The multiple EMA crossover zone (0.8346-0.8359) is creating a decision point for this pair. Recent price history shows a clear downtrend from the March highs above 0.8400, suggesting bearish momentum remains in play.
Volume readings indicate moderate market interest at current levels.
Trade Scenario
Bearish Case:
Failure to break above 0.8367 resistance could trigger another downward move
Initial target: 0.8346 support
If broken: Watch for extension to 0.8320 horizontal support
Bullish Case:
Decisive break above 0.8367 with increased volume would signal potential trend reversal
Initial target: 0.8400 psychological level
Key Levels to Watch:
Resistance: 0.8367, 0.8400
Support: 0.8346, 0.8320
#EURGBP
The multiple EMA crossover zone (0.8346-0.8359) is creating a decision point for this pair. Recent price history shows a clear downtrend from the March highs above 0.8400, suggesting bearish momentum remains in play.
Volume readings indicate moderate market interest at current levels.
Trade Scenario
Bearish Case:
Failure to break above 0.8367 resistance could trigger another downward move
Initial target: 0.8346 support
If broken: Watch for extension to 0.8320 horizontal support
Bullish Case:
Decisive break above 0.8367 with increased volume would signal potential trend reversal
Initial target: 0.8400 psychological level
Key Levels to Watch:
Resistance: 0.8367, 0.8400
Support: 0.8346, 0.8320
#EURGBP
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.