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EUR/GBP Potential Downward Movement

EUR/GBP Long-Term Trend: Bearish

Key Resistance Levels: 0.8459, 0.8516, 0.8598

Key Support Levels: 0.8395, 0.8317, 0.8251

Daily Chart:

The price on the higher time frame has recently reversed from a strong resistance level of 0.8598 and after that, it also broke a small support zone near 0.8459. As of now, the price looks good for the bearish candidate.

EUR/GBP Medium-Term Trend: Bearish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction while making lower highs. The price broke and retested a zone of 0.8528 and then continued the bearish move. A minor support level of 0.8456 has also been broken and retested which makes it a good bearish candidate. 

Signal Idea:

Sell Stop Order @ 0.8431

TP 1 @ 0.8393

TP 2 @ 0.8355

Stop Loss @ 0.8469

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

8 comments

  1. will there be any other free signal today as this one did not trigger

  2. What to do if the trade doesn’t event trigger today should I cancel it

  3. SL hitted 😔

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