EUR/GBP Long-Term Trend: Bearish
Key Resistance Levels: 0.8632, 0.8700, 0.8738
Key Support Levels: 0.8588, 0.8549, 0.8494
The price on the daily time frame is trending to the downside by posting lower lows and highs. Currently we are in the middle of a correction that retraced to the 0.8632 USD mark. After that move we expect further movement to the downside.
EUR/GBP Medium-Term Trend: Bearish
On the 4 – hour time frame, the pair is trading inside a bearish flag formation. A higher correction might be seen to the resistance where the price could tumble all the way down to our target profit.
Sell Limit Order @ 0.8632
TP 1 @ 0.8588
TP 2 @ 0.8549
Stop Loss @ 0.8654
Trade Safely 🙂