The EUR/GBP chart is currently displaying an overall bearish momentum, as it approaches a key support level.
Resistance Levels:
The 1st resistance at 0.8687 is identified as an "Overlap Resistance", implying its potential to impede upward price movements. Additionally, the 2nd resistance level at 0.8722 is characterized as a "Pullback Resistance" indicating its role as a substantial obstacle to further advances.
Support Levels:
On the support side, the 1st support at 0.8648 serves as an "Overlap Support". This level suggests an area where buying interest may emerge, potentially providing some support to the price. Similarly, the 2nd support at 0.8599 is also classified as a "Pullback Support" highlighting its significance as a substantial support zone.
