EURGBP: Bucking the Trend with a Breakout?

The EURGBP pair has ascended past the resistance mark of its falling price channel as visualized on the 4-hour chart. Its successful breach above the key resistance at 0.8567 suggests an end to the downward trajectory from 0.8714, indicating its completion at 0.8512.

Future Upside Possibilities:

Looking ahead, a rally seems to be on the horizon, with traders focusing their sights on the upcoming 0.8592 resistance. Should the pair break through this level, it could pave the ground for a leap to the next resistance, set at 0.8620.

Potential Supporting Floor:

On the downside, the immediate support level to watch is at 0.8545. If the pair dips lower and breaches this checkpoint, we could potentially see another drop to retest the 0.8512 support.