EUR/GBP Price Forecast: Euro keeps hovering near the 0.8650 support area

💡 DMK Insight

The Euro’s bearish trend is tightening around 0.8650, and here’s why that matters: With the price struggling to break above 0.8700, traders should be cautious. This level has become a psychological barrier, and the failure to breach it indicates weakness. If the Euro continues to hover near 0.8650, we might see a further decline, potentially targeting lower support levels. Keep an eye on economic indicators from the Eurozone, as any negative data could exacerbate this downward pressure. On the flip side, if the Euro manages to reclaim 0.8700, it could signal a short-term reversal, but that seems unlikely given the current sentiment. Watch for volume spikes or shifts in market sentiment, as these could provide clues about potential reversals or continued bearish momentum. The next few trading sessions will be crucial, so stay alert for any developments that could impact this trend.