Trend Overview:
EUR/GBP remains in a longer-term bearish trend, with recent price action aligning with the prevailing downward momentum.
Key Resistance Level:
0.8440 – Recent swing high and critical resistance. A pivotal level to watch for near-term direction.
Key Support Levels:
0.8390 – Initial support target on bearish rejection.
0.8375 – Secondary support, aligning with previous consolidation zone.
0.8350 – Longer-term support and potential bearish extension target.
Scenario 1: Bearish Rejection at 0.8440
An oversold rally into the 0.8440 resistance level followed by bearish rejection would likely confirm the continuation of the broader downtrend. In this case, sellers may target:
First support: 0.8390
Then: 0.8375
Ultimately: 0.8350 over the longer timeframe.
Scenario 2: Bullish Breakout Above 0.8440
A confirmed breakout and daily close above 0.8440 would invalidate the bearish bias. This would shift sentiment toward a more bullish short-term outlook, opening the path for:
Immediate resistance: 0.8460
Followed by: 0.8480
Conclusion:
The bias remains bearish as long as EUR/GBP trades below the key resistance at 0.8440. A rejection from this level would reinforce the downtrend and bring 0.8390–0.8350 into focus as downside targets. However, a daily close above 0.8440 would be a technical reversal signal, with scope for a bullish extension toward 0.8480.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
EUR/GBP remains in a longer-term bearish trend, with recent price action aligning with the prevailing downward momentum.
Key Resistance Level:
0.8440 – Recent swing high and critical resistance. A pivotal level to watch for near-term direction.
Key Support Levels:
0.8390 – Initial support target on bearish rejection.
0.8375 – Secondary support, aligning with previous consolidation zone.
0.8350 – Longer-term support and potential bearish extension target.
Scenario 1: Bearish Rejection at 0.8440
An oversold rally into the 0.8440 resistance level followed by bearish rejection would likely confirm the continuation of the broader downtrend. In this case, sellers may target:
First support: 0.8390
Then: 0.8375
Ultimately: 0.8350 over the longer timeframe.
Scenario 2: Bullish Breakout Above 0.8440
A confirmed breakout and daily close above 0.8440 would invalidate the bearish bias. This would shift sentiment toward a more bullish short-term outlook, opening the path for:
Immediate resistance: 0.8460
Followed by: 0.8480
Conclusion:
The bias remains bearish as long as EUR/GBP trades below the key resistance at 0.8440. A rejection from this level would reinforce the downtrend and bring 0.8390–0.8350 into focus as downside targets. However, a daily close above 0.8440 would be a technical reversal signal, with scope for a bullish extension toward 0.8480.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
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.
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.