EUR/GBP Potential Downward Movement

EUR/GBP Long-Term Trend: Bearish

Key Resistance Levels: 0.84753, 0.84898, 0.85129.

Key Support Levels: 0.84365, 0.84255, 0.84104.

1-Hr Time Frame:

The price on the higher time frame failed to break a strong resistance level around the 0.84753 GBP mark where it posted a bar with a long wick to the upside showing a sell pressure. Near the resistance there is a bearish with a huge body signaling the reappearance of the sellers and might succeed to reverse the market.

EUR/GBP Medium-Term Trend: Bearish

5-Mins Time Frame:

On the lower time frame, the market posted a bearish impulsive wave and then entered into a correction and managed to break it to the downside. a higher correction could be seen before a new bearish impulsive wave to the downside.

Signal Idea:

Sell Limit Order @ 0.84643

TP 1 @ 0.84363

TP 2 @ 0.84255

Stop Loss @ 0.84779

Trade Safely 🙂