After a major decline since breaking 0.7805 at the beginning of the year, the EURGBP has found support at the next major level of 0.7183, which is the long term support identified from the weekly time frame.
At setup, a potential long position has emerged on the 4 hour time frame.
Price has breached the entry and confirming the bullish intent.
If price breaks and holds above the 0.7392 level we could expect a continuation to the upside targeting 0.7470 and 0.7596.
For more information regarding this setup: