EUR/GBP Timeframe H4 
Based on the EUR/GBP chart on the H4 timeframe, the current condition shows that this currency pair is still under significant bearish pressure. The price movement in recent weeks has shown a weakening trend after failing to sustain the upward momentum that briefly took the price towards the peak area around 0.8729 in mid-May. After reaching that level, selling pressure increased significantly and formed a series of lower highs and lower lows, which are the main characteristics of a downtrend. From the Moving Average perspective, the price is currently below the MA100 and MA200. This position indicates that the market sentiment in the medium to long term is still negative. The MA100, shown by the blue line, is moving downwards and has been below the MA200 in most recent movements, reflecting the weakening of the previous bullish momentum. Meanwhile, the MA200, shown by the red line, is still above the price and acts as a strong dynamic resistance. As long as the price remains below these two moving averages, the likelihood of a continuation of the bearish trend is higher than the chances of a sustained upward reversal. The latest price movement shows renewed selling pressure after the market failed to hold above the 0.8631 area. This level previously acted as a significant support and successfully held off price declines several times. However, the breakthrough in that area signals that sellers are starting to take control of the market. In the concept of support and resistance, a level that has been breached usually changes its function to become a new resistance. Therefore, the 0.8631 area is now an important level to watch if there is a correction upwards in the near future. The nearest support currently lies around 0.8616. The price is approaching this area after experiencing gradual declines since early June. This level is crucial as it represents the closest horizontal support boundary that could trigger short-term buying reactions. If the price manages to stay above the 0.8616 area, the possibility of a technical rebound towards the 0.8631 resistance remains open. However, if the selling pressure continues and this support is convincingly breached, the bearish structure will strengthen further, opening up the potential for deeper declines in the next trading sessions. On the upside, the first resistance is at the 0.8631 area, which is now the initial test point for any price recovery attempts. If buyers can push the price back above this level, the next target for an increase is at the 0.8681 area. The 0.8681 zone holds significant technical meaning as it is close to the position of the MA200 and was previously a market equilibrium area before the selling pressure increased again. A breakthrough above this level will be an initial signal that the bearish momentum is starting to weaken. Stronger resistance is at the 0.8702 and 0.8729 areas. Both levels are important peaks formed during the mid-May uptrend phase. To change the market structure from bearish to bullish, the price needs to break through these areas and form new higher highs. Until this condition occurs, any increases can still be considered as corrections within a larger downtrend. Looking at the candlestick patterns, the selling pressure still appears quite consistent. Although bullish candles have appeared several times as recovery attempts, buyers' strength has not been able to produce significant breakthroughs of resistance. On the contrary, each increase tends to be used by market participants to resume selling actions. This phenomenon reinforces the view that the current market sentiment is still in favor of sellers. From a combination of trend analysis, moving averages, and horizontal support-resistance, it can be concluded that EUR/GBP on the H4 timeframe is still in a bearish phase. The price position below the MA100 and MA200 indicates that the downward pressure still dominates. The 0.8616 area is the nearest crucial support to watch in the short term, while 0.8631 is the initial resistance that needs to be breached to open up recovery opportunities. As long as the price remains below 0.8681 and is still below the two main moving averages, the tendency for EUR/GBP movement remains downward. Only a strong breakthrough above the main resistances can change this technical view to a more positive one and indicate the start of a new bullish phase.
