EURGBP reaching pivotal support at 0.8720The EURGBP remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend.
Support Zone: 0.8720 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 0.8720 would confirm ongoing upside momentum, with potential targets at:
0.8780 – initial resistance
0.8800 – psychological and structural level
0.8820 – extended resistance on the longer-term chart
Bearish Scenario:
A confirmed break and daily close below 0.8720 would weaken the bullish outlook and suggest deeper downside risk toward:
0.8700 – minor support
0.8690 – stronger support and potential demand zone
Outlook:
Bullish bias remains intact while the EURGBP holds above 0.8720. A sustained break below this level could shift momentum to the downside in the short term.
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