EUR/GBP Potential Downward Movement

EUR/GBP Long-Term Trend: Bearish

Key Resistance Levels: 0.85756, 0.85950, 0.86135.

Key Support Levels: 0.85470, 0.85123, 0.85000.

1-Hr Chart:

The price on the higher time frame is forming an inverse head and shoulders which might lead most probably to a reversal and a move lower. The market posted a bar with a long wick to the upside showing that the sellers are about to take control.

EUR/GBP Medium-Term Trend: Bearish

15-Mins Chart:

On the lower time frame, the market is traded inside a bullish channel where we can notice the appearance of big bodied bearish bars which is a sing that the bears are about to reverse the price. a higher correction could be seen before new bearish impulsive wave toward the target profits.

Signal Idea:

Sell Limit Order @ 0.85783

TP 1 @ 0.85498

TP 2 @ 0.85123

Stop Loss @ 0.85923

Trade Safely 🙂