EUR/GBP Timeframe H4 
The movement of the EUR/GBP currency pair on the H4 timeframe is still under bearish pressure, although in recent sessions there have been attempts to stabilize prices in the lower support area. The chart structure shows that after experiencing a strengthening at the end of March until mid-April 2026, the bullish momentum began to lose steam when prices failed to hold above the main resistance area. This condition then triggered gradual selling pressure that brought prices down consistently until the beginning of May. From a moving average perspective, the technical condition of EUR/GBP is still negative. The price is currently below the MA 100 marked by the blue line, while the red MA 200 is still above the price and moving slowly downwards. This position indicates that sellers are still dominating the market in the medium term. In addition, the sharp downward direction of the MA 100 shows that short-term bearish pressure is still quite strong despite a small rebound in the last few candles. The bearish condition is further reinforced by the failure of prices to hold the 0.8693 area, which was previously a significant support. After this level was breached, the market experienced a fairly aggressive acceleration downwards towards lower support areas around 0.8632 and 0.8611. This decline indicates that buyers are losing momentum and sellers are starting to control the market direction more dominantly. Although prices are now moving sideways around the 0.8641 area, this movement still appears to be a consolidation phase within the larger bearish trend. The nearest horizontal support area is around 0.8632. This zone is quite important as it has managed to withstand selling pressure in recent sessions. The buyer's reaction from this area indicates that the market is still trying to build a price base after the previous sharp decline. However, as long as the price is unable to move significantly above the MA 100, the potential for a rebound remains relatively limited. If the 0.8632 support is breached again, the opportunity for a decline towards the next support area at 0.8611 will become more open. This level is a significant major support as it is the recent low point on the H4 chart. Meanwhile, the nearest resistance is in the 0.8652 to 0.8693 area. This zone is crucial because besides being a horizontal resistance, this level is also close to the positions of the MA 100 and MA 200. In several recent attempts to rise, prices have not been able to convincingly break through this area and have been held back by selling pressure. This indicates that sellers are still actively maintaining market dominance in the medium resistance area. As long as prices remain below this zone, the bearish bias is still more dominant than the potential for a bullish reversal. The next major resistance is around 0.8719 to 0.8741. This area was previously the peak of bullish movement in early April before prices reversed direction. To change the trend structure back to bullish, EUR/GBP needs to break through this resistance area and move steadily above the MA 200. Without a strong breakout, the increases that occur are still considered temporary retracements within the ongoing downtrend. The candlestick structure on the H4 chart also shows a market character that is still weak. After a sharp decline at the end of April, the rebound that occurred does not appear too aggressive and the volume of increase is relatively limited. This indicates that buyers do not yet have enough strength to fully reverse the trend. Additionally, the formation of lower highs strengthens the indication that the bearish pressure is not yet fully over. However, there is a possibility of a short-term consolidation phase if the 0.8632 support can hold. The current sideways movement may be a temporary accumulation phase before the market determines its next direction. If buyers manage to push prices back above the MA 100, the potential for recovery towards the 0.8693 resistance will begin to open up. But as long as prices remain below the two main moving averages, the bearish tendency remains the main scenario. Overall, the technical analysis of EUR/GBP on the H4 timeframe still indicates bearish pressure with confirmation from the price position below the MA 100 and MA 200. The 0.8632 and 0.8611 support areas are crucial points that will determine whether the decline will continue or a price stabilization phase will begin. On the other hand, the 0.8652 to 0.8693 resistance becomes a crucial area that needs to be breached to open up stronger recovery opportunities. As long as a bullish breakout has not occurred and prices are still held below the main moving averages, the market bias remains bearish with limited potential for upward corrections.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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