EURGBP approaches key resistance zone
Monday’s Forex session is rather calm (at least so far). Technically looking at the EURGBP currency pair on the H4 interval, the trading continues in an upward correction. It’s worth noting that the currency pair has entered a key short-term resistance zone. The purple area is marked with the upper limit of the 1:1 structure and previous price reactions.
If buyers fail to overcome this obstacle, it is possible that the decline will continue towards the recent lows at 0.8565. On the other hand, if buyers manage to break above the resistance level, then the main trend may change to an uptrend. In such a scenario, the zone at 0.8717 may become the next target for buyers.