EUR/GBP Long-Term Trend: Bearish
Key Resistance Levels: 0.8375, 0.8402, 0.8421
Key Support Levels: 0.8326, 0.8312, 0.8301
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
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.
Sell Limit Order @ 0.8341
TP 1 @ 0.8300
TP 2 @ 0.8267
Stop Loss @ 0.8361
Trade Safely 🙂