Short

EURGBP → False break of liquidity zone (resistance)

within the distribution (news background) tests resistance 0.84616 and liquidity zone, but without the possibility of continued growth the price forms a false breakout

The dollar index falls amid Trump's introduction of new tariffs, which generally provokes a rally in the whole market. But before NFP, the market shifts to profit-taking because of the growing risks. There are quite important news ahead, which may provoke high volatility.
Technically, after a strong move, the currency pair forms a false resistance breakout and consolidates in the selling zone. If the bears keep the price below 0.84616, in the short term we should wait for a correction to 0.5 fibo or to the fvg zone.

Resistance levels: 0.84600
Support levels: 0.8427, 0.8396

The situation is quite complicated due to unstable background, but technically we have a classic situation with a false breakout of strong resistance, and as we know, according to statistics, the strongest movements start after it (in relation to the trade of level breakout).

Regards R. Linda!

RLinda

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