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EUR/GBP Potential Downward Movement

EUR/GBP Long-Term Trend: Bearish

Key Resistance Levels: 0.8403, 0.8492, 0.8528

Key Support Levels: 0.8324, 0.8287, 0.8202

Daily Chart:

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

1-Hour Chart:

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.

Signal Idea:

Sell Stop Order @ 0.8375

TP 1 @ 0.8333

TP 2 @ 0.8249

Stop Loss @ 0.8417

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.

4 comments

  1. Hi, I followed this signal last Friday. It didn’t hit TP1 nor SL yet so I didn’t close the trade. Did the trend change? Should I close the trade? I am a newbie and First time to follow a signal. Will try this before joining VIP

    Thanks

    • Hi,
      We closed the trade at breakeven in VIP on Friday due to month closing but the trade is still valid and it is facing rejection at the 0.8403 area. You can hold the position if you like maybe move your SL to 0.8404 to reduce the risk.
      Happy trading

  2. Very difficult to rely on your call, if you remember last time I told you the buy call you gave had actually entered a strong sell zone, at 50% of retracement of previous bear candle & SL was hit in that trade & it was not reported on Telegram.
    Today again sell call for EurGbp, has landed oh 50% retracement of weekly Bull candle & I didn’t take the trade.
    If SL is hit on this trade, I will stop using your signal. So far I have never been profitable, I have taken 2 months VIP earlier & a weeks trail. , This trade is the last from my side.

    • If you are talking about AUDCAD trade then that trade was killed during the CPI data release. the pair is still going strong and is above the entry price. All our trades are reported in telegram whether loser or winner pls. check carefully.
      I don’t understand how you have not made any profit in the last two months when we are up in double digit and you yourself commented a few days ago that our trade did TP1 but if you do not agree with our analysis you can always use your own judgement.
      Have a good day.

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