GBP/EUR – Watching the 0.813 level for a potential bounce or break

Morning everyone,

I've been keeping a close eye on $GBP (specifically $EURGBP) over the last couple of sessions. We're currently sitting around 0.81345, which has been a pretty sticky area historically. Looking at the daily chart, it seems like we've tested this zone multiple times in the past, finding some support there before bouncing. However, the last few candles show a bit of selling pressure pushing us towards it again. The day's range has been 0.813-0.82356, so we're at the lower end of that today, indicating weakness.

My current thinking is that if 0.813 holds as support, we could see a relief bounce, perhaps back towards the 0.82 level. However, if we get a decisive break below 0.813 on decent volume, particularly if we close significantly lower for the day, then it could open the door for a move down to the next historical support around 0.805. The risk to that scenario, of course, is a quick reversal back above 0.813. It's not a strong directional setup for me yet, more of a wait-and-see as we approach a key inflection point.