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 🙂