The EUR/GBP chart suggests a neutral bias with price fluctuating between the support and resistance levels. Here are the key support and resistance levels:
Resistance Levels:
The 1st resistance level at 0.8614 is identified as an "Overlap resistance". This level may act as a significant barrier to further upward movement in the price of gold.
The 2nd resistance level at 0.8638 is also labeled as a "Pullback resistance". It represents another level where selling pressure could potentially emerge and limit any bullish momentum.
Support Levels:
The 1st support level at 0.8585 is marked as a "Pullback support". This level could attract buying interest and serve as a potential area of price reversal or consolidation.
The 2nd support level at 0.8553 is also identified as a "Pullback support". It represents another important support zone where traders might consider entering long positions.
