The bias is bullish while the price remains above 0.8640. This could only change if 1h and 4h candles will close below this level.

Disclaimer: The analysis presented in this article is for educational purposes only and should not be considered as financial advice.

This analysis was done on MetaTrader 4.

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Trade Idea Details:

EUR/GBP symbol

Trend: Bullish

Key support levels: 0.8640, 0.8620

Key resistance levels: 0.8744, 0.9000

Price Action: EUR/GBP shows signals of a valid and strong uptrend while remains above 200 Exponential Moving Average on multiple timeframes. Price produces higher highs and higher lows confirming the bullish sentiment.

EURGBP Daily Chart Analysis

EURGBP 4H Chart Analysis

EURGBP 30M Chart Analysis

Potential Trade Idea: We have chosen to go long on a small correctional move down. The price might stay near our entry point for some time, thus the buying opportunity should remain open throughout the day.

• Our buy was initiated at 0.8711
• Stop loss at 0.8613
• Take profit at 0.8994

Let us know if you have any questions or feedback in the comments section.

-Happy Trading!