$EURGBP Bearish Breakdown or Bullish Reversal in the Making?PEPPERSTONE:EURGBP
The pair is showing signs of weakness, with price action flirting with a potential break below 0.8265. If this level gives way , the pair could retest mid-December lows and the weekly fractal support at 0.8222.
We may see the formation of a bullish Crab pattern, projecting a reaction near 0.8237, just above key support. Should this harmonic setup play out, a bullish rebound could target the previous support at 0.8291, now acting as resistance after the recent fractal formation.
📌 Key Levels to Watch:
🔻 Break below 0.8265 could open the door to further downside.
🦀 Potential Bullish Crab pattern forming near 0.8237.
📈 Upside reaction could aim for 0.8291 (previous support turned resistance).
⚠️ Confirmation required—price action at these key levels will be critical.
📢 Final Note: At this stage, I remain neutral on PEPPERSTONE:EURGBP
A confirmed break below 0.8265 could shift the bias to bearish, while the formation of the bullish Crab pattern should be monitored with caution.🚦
Happy Trading,
André cardoso
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