EUR/GBP Daily Support Rebound & Bullish Swing SetupEuro vs. Great British PoundFX:EURGBPthetradeguru_fxExecutive Summary The EUR/GBP daily chart highlights a potential bullish reversal following a test of major psychological and historical support around the 0.8450 level. Price action has formed a bullish rejection wick (pin bar) right at this structural floor, aligning with the 0.00% Fibonacci retracement level of the recent down-leg. This setup presents a high-probability mean reversion trade toward key overhead resistance and Fibonacci extension levels, targeting an upward move of approximately 150 to 300 pips (roughly 0.35% to 0.70% gain). Key Technical Confluences Support Retest: Price successfully respected the multi-week horizontal support level near 0.8450, absorbing selling pressure. Fibonacci Retracement & Extension: The impulsive drop from the 0.8600 swing high (100.00% level) bottomed precisely at the 0.00% Fibonacci level, setting up a corrective retracement phase toward the 38.20% and 61.80% Fibonacci ratios. Candlestick Rejection: Formation of a clear daily bullish rejection wick/pin bar within the support zone, indicating exhaustion among sellers and strong buyer defense. Trendline Interaction: Price is positioned to challenge the descending dynamic resistance trendline originating from the October swing high. Trade Execution & Risk Management Plan Entry Zone: Market execution or limit orders between 0.8455 and 0.8475. Take Profit 1 (TP1): 0.8500 (aligned with the 38.20% Fibonacci retracement level and prior consolidation resistance). Take Profit 2 (TP2): 0.8550 (aligned with the 61.80% Fibonacci retracement level and major overhead resistance). Invalidation / Stop Loss: Placed strictly below the recent swing low and support zone at 0.8425 to protect against a structural breakdown. Disclaimer This analysis is provided for educational and informational purposes only and does not constitute financial, investment, or trading advice. Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. Past performance is not indicative of future results. Always conduct your own due diligence and risk management before executing any trades.