British Pound / Euro forum

We have spotted a favorable buying opportunity on the EURGBP currency pair, supported by technical patterns and recent market behavior.
EURGBP is showing signs of a bullish reversal after bouncing off a short-term support zone near the 0.86680–0.86700 range.
The entry at 0.86786 offers a strong technical position, just above the support, and aligned with the start of a potential upward swing.
The first target of 0.86850 is modest but strategically placed to lock in quick intraday profits while confirming the upward move.
The first target of 0.86850 is modest but strategically placed to lock in quick intraday profits while confirming the upward move.
The second target at 0.86980 sits at a prior resistance level, which has historically triggered pullbacks—an ideal mid-term objective.
The third and final target at 0.87100 aligns with a significant psychological resistance zone, offering a well-balanced reward.
Idea: Beauty Series #8 | $EURGBP Honestly, I'm hoping it drops this week. There's still room for retracement before the final axe!

EUR/GBP has approached a key resistance zone near 0.8720, where repeated rejections suggest bullish fatigue.
The price structure is forming lower highs, indicating a gradual shift in sentiment from bullish to bearish.
Bearish divergence on the RSI signals potential downside, as momentum fails to support recent price pushes.
Volume analysis shows decreasing buying pressure, often a precursor to a short-term sell-off.
The 0.87075 level is a strategic entry, just below a minor intraday support, now turning resistance.
A break below 0.8700 could trigger sell-side liquidity, accelerating movement toward our profit targets.
The first target at 0.86985 lies near a minor support pivot, ideal for partial profit-taking.
The second target aligns with a previous demand zone, where price may hesitate or reverse.
The third target, 0.86780, represents a major support level, offering a favorable risk-to-reward ratio for swing traders.
Our stop loss is safely positioned at 0.87180, above recent highs, ensuring protection against volatility spikes.
A potential selling opportunity has emerged on the EUR/GBP currency pair, suggesting that the Euro may continue to weaken against the British Pound. Based on current technical patterns and market sentiment, a short position could be favorable at the identified levels.
📉 Entry Zone: 0.87467
🎯 1st Target: 0.87300
🎯 2nd Target: 0.87250
🎯 3rd Target: 0.87140
🛑 Stop Loss: 0.87950
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