EUR/GBP: Testing Range Support, Is a Swing Bounce in the Cards?

Market Structure & Technical Outlook

Looking at EUR/GBP, the market is currently trading around 0.85766, having seen a slight dip of -0.04% over the last 24 hours. The overall trend remains sideways, with price action contained within a well-defined range. My focus is on the immediate support at 0.8571, which has shown resilience in recent sessions. The daily range today, 0.85714 — 0.85817, perfectly encapsulates this tight consolidation. I'm observing a potential bounce here as the price approaches the lower end of this intraday range and the key 0.8571 support level. A move below this would bring the next significant support at 0.855 into play. However, given the current rejection of 0.8571 in early trading, I see a