EUR/GBP Breaks Out of Bullish Flag; Traders Eye 0.8683 First Target
EUR/GBP has broken out of a bullish flag pattern, signaling a potential move higher against the Pound. Key levels to watch include first target 0.8683 and extension zone 0.8720, with support at 0.8629 and invalidation at 0.8618.
EURGBP
EUR/GBP has broken out of a bullish flag pattern, with traders interpreting the move as a signal of further Euro strength against the Pound. The breakout resembles a knockout match where key levels will determine the outcome.
Key levels to watch:
- First target: 0.8683
- Extension zone: 0.8720
- Support: 0.8629
- Invalidation: 0.8618
The Euro is currently ahead, but the next move depends on whether this breakout holds. A full technical breakdown is available on Instagram.
Source: FXStreet Forex News