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EUR/GBP Potential Upward Movement

EUR/GBP Long-Term Trend: Bullish

Key Resistance Levels: 0.82919, 0.83156, 0.83334.

Key Support Levels: 0.82770, 0.8640, 0.85550.

1-Hr Time Frame:

The price on the higher time frame succeeded to break the bearish to the upside after the bears were trapped below the support around the 0.82810 GBP level. This shows that the buyers took control of the market and might push it upward all the way up toward the next key resistance levels.

EUR/GBP Medium-Term Trend: Bullish

10-Mins Time Frame:

On the lower time frame, the buyers succeeded to break the bearish trend line to the upside after a double bottom formation. A lower correction could be seen to the support level to bring back liquidity before a new bullish impulsive wave toward the target profits.

Buy Market Order @ 0.82791

No Target Profit –> Trailing Stop

Stop Loss @ 0.82629

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.

2 comments

  1. How many pips is your advice to use for trailing stop?

    • I will monitor the trade on the vip group.

      There is no specific amount of pips that I use its just how the market forms. Mostly I use the coming highs and lows to assess where I should trail the stop.

      Have a happy trading day!

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