EUR/GBP Long-Term Trend: Bearish
Key Resistance Levels: 0.85886, 0.86094, 0.86330.
Key Support Levels: 0.85503, 0.85060, 0.84723.
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
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.
Sell Limit Order @ 0.85721
TP 1 @ 0.85508
TP 2 @ 0.85060
Stop Loss @ 0.85827
Trade Safely 🙂