Trend: Bullish
Current Price Action: Sideways consolidation within an overall rising trend.
Key Support Level: 0.8446
Key Resistance Levels: 0.8556, 0.8578, 0.8613
Bullish Scenario:
If the price pulls back and finds support at 0.8446, a bounce from this level could trigger a move towards 0.8556, and potentially extend to 0.8578 and 0.8613 in the longer term.
Bearish Scenario:
A confirmed break and daily close below 0.8446 would invalidate the bullish outlook. This could lead to further downside toward the next support levels at 0.8414 and 0.8380.
Conclusion:
The EUR/GBP pair remains in a bullish trend overall. Traders should watch for a reaction at the 0.8446 level—support holding could confirm bullish continuation, while a break below may signal deeper retracement.
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.
Current Price Action: Sideways consolidation within an overall rising trend.
Key Support Level: 0.8446
Key Resistance Levels: 0.8556, 0.8578, 0.8613
Bullish Scenario:
If the price pulls back and finds support at 0.8446, a bounce from this level could trigger a move towards 0.8556, and potentially extend to 0.8578 and 0.8613 in the longer term.
Bearish Scenario:
A confirmed break and daily close below 0.8446 would invalidate the bullish outlook. This could lead to further downside toward the next support levels at 0.8414 and 0.8380.
Conclusion:
The EUR/GBP pair remains in a bullish trend overall. Traders should watch for a reaction at the 0.8446 level—support holding could confirm bullish continuation, while a break below may signal deeper retracement.
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.