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EUR/GBP Potential Downward Movement

EUR/GBP Long-Term Trend: Bearish

Key Resistance Levels: 0.85682, 0.85905, 0.86188

Key Support Levels: 0.85442, 0.85315, 0.85052

Daily Chart:

The price on the higher time frame has been in a downtrend recently after it faced resistance at a major level of 0.86981 and reversed. The pair has continued to break a few support levels which suggests further trend continuation.

EUR/GBP Medium-Term Trend: Bearish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It broke a consolidation zone of 0.86188 and 0.85905 and has sustained below that. As of now the pair has broken and retested a minor level of 0.85682 before continuing the momentum.   

Signal Idea:

Sell Limit Order @ 0.85595

TP @ 0.85489

Stop Loss @ 0.85701

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.

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