EUR/GBP - Bullish Channel

[johnblockbuster]

🧠 Setup Overview:
EUR/GBP continues to trade within a well-defined bullish channel, holding strong above the key support zone near 0.8720–0.8715. The pair has respected the trendline multiple times, showing consistent buying interest. As long as price stays within the channel, the short-term bias remains bullish.

Technical Plan:
Pattern: Bullish Channel Formation
Bias: Buy on confirmation bounce from trendline or cloud support
Support Zone: 0.8720 – 0.8715

Entry Zone: Near 0.8725–0.8730 (after confirmation candle)
Targets:
1st Resistance: 0.8765
2nd Resistance: 0.8797

Invalidation: A close below 0.8710 would weaken bullish structure

Fundamental Insight (Today’s Context – 28 Oct 2025)

The EUR gains mild support from hawkish remarks by ECB policymakers hinting at a cautious tone toward further easing.

The GBP remains pressured as UK economic data reflects slower consumer spending and weaker manufacturing momentum.

Combined, the sentiment supports a short-term EUR strength against GBP, aligning with the bullish technical outlook.

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