EUR/GBP Long-Term Trend: Bullish
Key Resistance Levels: 0.8566, 0.8588, 0.8600
Key Support Levels: 0.8538, 0.8502, 0.8450
The price on the higher time frame failed to break below a strong support which is the 0.8538 USD mark. This led to a reversal and a move upward by posting a huge fake breakout to the downside.
EUR/GBP Medium-Term Trend: Bullish
On the lower time frame, the pair succeeded to break the bullish formation to the upside after finding buyers around the 50% Fibonacci retracement level. A lower correction is expected to the strong support around the 0.8538USD mark before a rally to the upside.
Buy Limit Order @ 0.8539
TP 1 @ 0.8566
TP 2 @ 0.8588
Stop Loss @ 0.8528
Trade Safely 🙂