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Watching EUR/GBP at 0.8545 - Potential Support Test
Been keeping an eye on $EURGBP today, and it's currently flirting with that 0.8545 level. It's dipped just below it during the day, hitting 0.85451, but has managed to bounce back slightly. From my charts, this area has acted as a decent floor in the past, so I'm curious to see if it holds again.
My concern, and what would invalidate this as a potential support test for me, would be a sustained close well below 0.8545, especially if we see momentum pick up on the downside. If it starts to really chew through that level and push towards 0.8530 without much resistance, then my read on it as a strong support would be off. Just watching the price action closely for now.
1 comments · 1 points
I'm seeing similar patterns on my charts for EUR/GBP. Do you have any specific indicators you're watching for a confirmed bounce or breakdown?