“Trading involves a high risk to the invested capital. Understand all risks before investing”
CFI Palestine doesn’t deal with virtual assets or crypto currencies.
CFI Palestine is regulated by Palestine Capital Market Authority license number (PCMA/CFI/562776930)
EURGBP, Time frame: 1DEUR/GBP has broken below the rising wedge that developed from the July low. After repeatedly struggling to clear the 0.8603 resistance area, price turned sharply lower and broke through the wedge's rising support line, weakening the recent recovery structure.
Selling pressure accelerated after EUR/GBP moved below 0.8533, which had acted as an important support level during the consolidation. This level now becomes the first technical hurdle above price if the pair attempts to recover.
Price Moves Into Key Support
EUR/GBP is now trading around 0.8462, directly inside the highlighted 0.8450–0.8470 support zone. This area is significant because it sits close to the July swing low, where buyers previously stepped in.
Below this zone, 0.8420 becomes the next major support level.
RSI Shows Stretched Momentum
RSI has fallen to approximately 24.5, placing momentum firmly in oversold territory. This confirms the strength of the recent selloff, but also shows that the move has become increasingly stretched as price reaches support
Summary
EUR/GBP has broken below its rising wedge and lost 0.8533 support, accelerating the decline into the key 0.8450–0.8470 support zone. RSI near 24.5 reflects strong but stretched downside momentum. The pair is now testing an important area where buyers previously emerged, while 0.8533 becomes the first major resistance level on any recovery.
Disclaimer: The content published above has been prepared by CFI for informational purposes only and should not be considered as investment advice. Any view expressed does not constitute a personal recommendation or solicitation to buy or sell. The information provided does not have regard to the specific investment objectives, financial situation, and needs of any specific person who may receive it, and is not held out as independent investment research and may have been acted upon by persons connected with CFI. Market data is derived from independent sources believed to be reliable, however, CFI makes no guarantee of its accuracy or completeness, and accepts no responsibility for any consequence of its use by recipients.
-1791969153.webp)
-1791797000.webp)
-1791359420.webp)
