As you see in the 4H chart, we are having a downtrend with lower lows and lower highs.
On the other side, price failed to break the last low and has made a higher low.
Currently, price is approaching to the resistance level at 0.8355, and we should wait for its reaction to this level:
Since we are in a downtrend, If price retests the resistance and gets rejected from this level, price will drop again towards the next major low.
But, if price breaks the resistance level to the upside with a bullish candle closure above this level, I expect a reverse on EURGBP and a rise to the next major high at 0.84185
On the other side, price failed to break the last low and has made a higher low.
Currently, price is approaching to the resistance level at 0.8355, and we should wait for its reaction to this level:
Since we are in a downtrend, If price retests the resistance and gets rejected from this level, price will drop again towards the next major low.
But, if price breaks the resistance level to the upside with a bullish candle closure above this level, I expect a reverse on EURGBP and a rise to the next major high at 0.84185
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