EUR/GBP Bullish Analysis and Trade Idea

The EUR/GBP is showing promising signs of a bullish move on the 4-hour chart. Currently trading around 0.84500 GBP, the pair is positioned within a strong support and demand zone, suggesting potential upward momentum.


Technical Indicators:
Order Block (OB) on Daily Chart: Located around 0.85050, indicating significant institutional interest.
0.886 Fibonacci Retracement, aligns with the OB zone around 0.85000, highlighting a strong resistance area.

Demand & High Support: Price has historically reacted bullishly between 0.84350 and 0.84450.(Could mean we are going for 2 nice bullish weeks)

Buy Side Liquidity (BSL): Positioned just above 0.84700, suggesting potential liquidity for a bullish move. ( Another +20 pips push into the OB And Fibonacci Retracement )

Analysis:
The pair is consolidating above a strong support zone, with historical demand suggesting potential bullish movement. The alignment of the OB zone and the 0.886 Fibonacci retracement level around 0.85000 indicates a critical resistance area. If the price breaks above this, it could trigger further upside. (But this is were you would take profit)

Conclusion:
With the current technical setup, EUR/GBP presents a favorable Buy trade opportunity from the support zone towards the 0.85000 - 0.85200 resistance area.
Apply appropriate risk management.