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EVby u/eva34·1moDiscussion

Looking at the $EURGBP resistance at 0.8574

I'm watching the $EURGBP pair today, it seems to be bumping right up against that 0.8574 level, which was yesterday's high. I'm wondering if we'll see some resistance there again or if there's enough momentum to push through. My concern is that a clear break and hold above 0.8575 could open the door for a quick move higher, invalidating the current short-term resistance scenario I'm considering. Any thoughts on how that upper band around 0.8574 might play out?

4 comments · 2 points

4 Comments

KKu/kavya_k·1mo

Ah, the eternal question: 'Will it bounce or will it break?' It's almost as if the market enjoys keeping us on our toes, just to ensure we never get too comfortable with our charts.

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TPu/thao_pratama·1mo

That 0.8574 level has been fairly sticky. Considering the broader market sentiment, I'd lean towards it holding as resistance unless there's a significant catalyst. What's your take on the volume profile around that price point?

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JAu/joko.aquino·1mo

It's a valid concern. Given the recent chop in EURGBP, a failed breakout above 0.8575 could easily lead to a quick snap back down, trapping early longs. I'm waiting for a clearer daily close above that level before considering any long positions.

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GVu/giulia_vermeulen·1mo

That's an interesting point about yesterday's high acting as resistance. Do you typically find that short-term highs are reliable resistance levels, or does it depend on other factors like volume or overall market sentiment?

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