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EUR/GBP Potential Upward Movement

EUR/GBP Long-Term Trend: Bullish

Key Resistance Levels: 0.83690, 0.83722, 0.83800.

Key Support Levels: 0.83378, 0.83299, 0.83257.

1-Hr Time Frame:

The price on the higher time frame failed to break the strong support level around the 0.83360 GBP mark and left a fake breakout after a consolidation period where the buyers took control of the market. In addition, the price succeeded to break the bearish trendline to the upside and this will lead to further movement toward the next key resistance line.

EUR/GBP Medium-Term Trend: Bullish

5-Mins Time Frame:

On the lower time frame, the price started to post higher highs and lows showing that we are in a new trend to the upside and big bullish candlesticks appeared which indicates that the momentum needed is there to push the price toward our target profits.

Buy Market Order @ 0.83405

TP 1 @ 0.83690        

TP 2 @ 0.83800

Stop Loss @ 0.83285

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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