EUR/GBP Long-Term Trend: Bullish
Key Resistance Levels: 0.86031, 0.86408, 0.86574.
Key Support Levels: 0.85444, 0.85116, 0.84755.
The price on the higher time frame posted a Wyckoff accumulation phase at the bottom which led to a reversal and a move to the upside. Now the main direction is upward where the market succeeded to break the 0.85480 GBP mark by a big bodied bullish bar showing that the buyers are in control. We expect further movement to the upside in the coming hours.
EUR/GBP Medium-Term Trend: Bullish
On the lower time frame, the price found buyers around the 50 % Fibonacci retracement level where an inverse head and shoulders has been posted. We expect a slight lower correction before a new bullish impulsive wave toward the target profit.
Buy Limit Order @ 0.85382
TP 1 @ 0.86000
TP 2 @ 0.86408
Stop Loss @ 0.85075
Trade Safely 🙂