EURGBP Technical Setup: 1:3 R:R Opportunity on Retest

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After the drop to 0.8250 — a level not touched since 2022 — EURGBP rebounded to 0.8450 before starting another decline.
However, the 0.8250 support held firm once again, a higher low follow, and EURGBP eventually broke above 0.8450, confirming a double bottom pattern.

Price acceleration quickly took the pair above 0.8700, and now EURGBP is undergoing a normal correction.

The broken neckline at 0.8450 now acts as clear support.
Traders could look to buy near the 0.8450 retest, using a tight stop below the neckline, and aiming for at least a 1:3 risk-reward ratio.

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