EURGBP INTRADAY range bound - BoE rate decisionTrend: 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.
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