EUR/GBP Timeframe H4 
The EUR/GBP chart on the H4 timeframe shows a clear price dynamics in the context of the medium-term trend, especially when analyzed using the 100-period Moving Average (MA 100) and the 200-period Moving Average (MA 200) along with horizontal support and resistance lines. Overall, the market structure is currently in a bearish correction phase after experiencing a significant increase in early April. In terms of trend, the MA 100 position, depicted by the blue line, is currently below the red MA 200, both of which are starting to trend downwards. This condition indicates that the medium-term momentum is weakening and the market is under bearish pressure. Previously, there was a bullish phase when the price successfully broke above the MA 200 and MA 100 in late March to early April, marked by a sharp increase reaching the strong resistance area around 0.8740. However, after reaching this peak, the price failed to sustain momentum and started forming lower highs, signaling a potential reversal. The price movement turning downwards and breaking below the MA 100, followed by a decline towards the MA 200, strengthens the indication of a trend reversal. Currently, the price has even moved below both of these moving averages, indicating seller dominance in the short to medium term. Additionally, the steeper slope of the MA 100 compared to the MA 200 indicates strong selling pressure in the near future, although the slower MA 200 still reflects a broader trend structure. Looking at the horizontal support and resistance lines, there are several key levels to watch. The nearest resistance area is around 0.8690 to 0.8720, which previously acted as a consolidation zone and has now turned into resistance after being breached below. Furthermore, there is a strong resistance around 0.8740, the previous price peak and a significant psychological barrier for bullish movements. As long as the price remains below this area, the upside potential is likely limited. On the other hand, the nearest support is around 0.8650, currently being tested by the price. This level is crucial as it has acted as a bounce area several times in the past few days. If this support is validly breached, the potential for further decline towards the next support area around 0.8610 will increase. The 0.8610 level itself is a strong support formed from previous price structures in mid-March, so price reactions in this area will be crucial for determining the next direction. The latest price structure indicates a sideways tendency with a bearish bias, seen in the relatively narrow movements but still under the pressure of the MA 100 and MA 200. This suggests that the market is in a consolidation phase after a decline, but there are no strong signs of a bullish reversal yet. As long as the price fails to break back above and hold above the MA 100, any increase is likely corrective and could be an opportunity for sellers to re-enter. Overall, the technical analysis of EUR/GBP on the H4 timeframe currently indicates a bearish trend dominance with lower highs and the price below the MA 100 and MA 200. The 0.8650 support area is key in the short term, while the 0.8690 to 0.8720 resistance is crucial for recovery efforts. The next movements will heavily depend on price reactions at these key areas, with a bearish scenario still favored unless there is a significant change in the trend structure.
