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EUR/GBP Potential Downward Movement

EUR/GBP Long-Term Trend: Bearish

Key Resistance Levels: 0.85886, 0.86094, 0.86330.

Key Support Levels: 0.85503, 0.85060, 0.84723.

Daily Chart:

The price on the higher time frame failed to break the daily resistance showing that the sellers are weak where a fake breakout has been posted a long with a bearish engulfing pattern. The market reversed and it is traded lower where we expect further movement to the downside.

EUR/GBP Medium-Term Trend: Bearish

1-Hour Chart:

On the lower time frame, the price has posted a bearish head and shoulders above the daily resistance around the 0.85886 GBP mark and was pushed to the downside. we are expecting a higher correction to the highlighted zone before a new move to the downside.

Signal Idea:

Sell Limit Order @ 0.85721

TP 1 @ 0.85508

TP 2 @ 0.85060

Stop Loss @ 0.85827

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

5 comments

  1. Don’t forget to report your SL!

  2. Awesome trades proud to be part of it

  3. Hi. I am new to the trading world. My signals I pay for normal have a SL and TP clearly stated. These signals are not as clearly stated. Everytime I place any orders it states invalid. Please could you help me understand what the SL and TP is when you guys send the signal and how to know if its a buy or sell. I understand it is stated but because It doesn’t let me place the order I just want to make sure its the right way

    Thank you

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