DeGRAM | EURGBP is forming a double bottom
Technical Analysis
EUR/GBP is rebounding from a well-defined support area near 0.86500.8600, where price respected the rising support line and formed a base after a descending correction.
The latest triangle consolidation broke upward, suggesting a corrective bullish phase toward the descending resistance line around 0.86900.8720.
Fundamental Analysis
Persistent UK economic uncertainty and softer growth outlook contrast with relatively stable Eurozone data, supporting medium-term EUR resilience against GBP.
Summary
Price is holding above key support.
A medium-term recovery toward 0.86900.8720 is favored while 0.8600 holds.
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