EUR/GBP – 30M – BUY

The EUR/GBP 30-minute chart has fired a cluster of bullish signals, including a Trendline Retreat Up, BOP Zero Cross Up, CCI OS Exit, STOCH KD Cross Up, WILLR OS Exit, Fibonacci Retreat UpTrend (50%), Belt Hold Bullish, and Bullish Engulfing. These signals collectively suggest that the recent downward move is losing momentum and a short-term bounce is likely. The confluence of multiple oscillator exits from oversold conditions, a bullish candlestick pattern, and a Fibonacci retracement level indicates strong buying interest at current levels.

However, the broader trend across all timeframes remains bearish, with the 1-hour and 2-hour charts showing a solid downtrend. This means the bullish signals are counter-trend and likely represent a corrective bounce rather than a reversal. The nearest resistance at 0.85662 is a key level to watch; a break above could extend the bounce, while failure to hold above it would confirm the bearish bias. Support is at 0.85388, and a close below this level would invalidate the bullish setup.