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EUR/GBP Potential Downward Movement

EUR/GBP Long-Term Trend: Bearish

Key Resistance Levels: 0.8375, 0.8402, 0.8421

Key Support Levels: 0.8326, 0.8312, 0.8301

Daily Time-frame:

The price on the higher time frame has shown a sharp reversal after touching the resistance point. There is also a big wick rejection that supports the trend. When we look at the bigger picture, this pair has shown a structural downward movement and we expect this to repeat.

EUR/GBP Medium-Term Trend: Bearish

1-Hour Time-frame:

On the lower time frame, the pair has formed a descending trend and recently it has broken the lower level. We have seen similar moves in the past and there is momentum in the price as well this time.

Signal Idea:

Sell Limit Order @ 0.8341

TP 1 @ 0.8300

TP 2 @ 0.8267

Stop Loss @ 0.8361

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

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