EUR/GBP Long-Term Trend: Bearish
Key Resistance Levels: 0.8403, 0.8492, 0.8528
Key Support Levels: 0.8324, 0.8287, 0.8202
The price on the higher time frame has recently reversed the direction after facing rejection from the 0.8590 level. There are a few rejection wicks seen and it has broken a support level of 0.8439 which indicates a bearish bias.
EUR/GBP Medium-Term Trend: Bearish
On the lower time frame, the pair is moving in the major trend’s direction. The price consolidated for some between a range of 0.8528 and 0.8492 and it broke the lower range. Recently a minor support level of 0.8403 has been broken and retested before continuing the momentum.
Sell Stop Order @ 0.8375
TP 1 @ 0.8333
TP 2 @ 0.8249
Stop Loss @ 0.8417
Trade Safely 🙂