EUR/GBP Long-Term Trend: Bearish
Key Resistance Levels: 0.85756, 0.85950, 0.86135.
Key Support Levels: 0.85470, 0.85123, 0.85000.
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
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.
Sell Limit Order @ 0.85783
TP 1 @ 0.85498
TP 2 @ 0.85123
Stop Loss @ 0.85923
Trade Safely 🙂