EURGBP H1: The Price Action Forecast for the European Session on 12.1.2026

EURGBP closes the last trading session in the green zone, while the downward price movement vector prevails on the higher time-frame.
The support and resistance levels:
The nearest support level is at the price level of the 0.86664.
The Penetrating Line pattern formed this level. The pattern consists of two candles: the first one has a long black body, the second one has a white body. The second candle opens with a gap down and closes above the middle of the first candle’s body.
The nearest significant resistance level is at the 0.86908 mark.
This level was formed by the Bearish Harami pattern, which is presented with two Japanese candlesticks where the second candlestick with a smaller real body is inside the body of the first one.
Trading recommendations:
Despite the downward dynamics prevail on a higher time-frame, the long position should be prioritized intraday. The latest signal on the chart indicates the prevalence of the upward movement intraday.