empty
 
 
15.01.2024 05:32 AM
EUR/GBP Day | Bearish Momentum

This image is no longer relevant

The EUR/GBP chart is currently facing significant resistance levels, and there is potential for a bearish reversal. Here are the key support and resistance levels:

Resistance Levels:

The 1st resistance level at 0.8621 is labeled as "An Overlap resistance." This level represents a notable area where selling pressure may increase.

The 2nd resistance level at 0.8664 is identified as "Pullback resistance," suggesting that it could act as a barrier to further upward movement.

Support Levels:

The 1st support level at 0.8557 is a critical zone for potential price reversal. It is supported by "Multi-swing low support" and further reinforced by the 78.60% Fibonacci Projection, making it a strong support area.

The 2nd support level at 0.8509 is also labeled as "Multi-swing low support," indicating its significance as a potential support zone.

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback