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EUR/GBP Potential Upward Movement

EUR/GBP Long-Term Trend: Bullish

Key Resistance Levels: 1.39644, 1.40170, 1.41000.

Key Support Levels: 1.39108, 1.38892, 1.38577.

1-Hr Frame:

The price on the higher time frame could not continue its move to the downside and faced a strong resistance which led to the formation of the double bottom pattern in a form of a higher low. A reversal occurred and a series of lower highs and lows has been posted where further movement to the upside could be seen.

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 higher low formation. A lower correction has been posted to the support level to bring back liquidity before a new bullish impulsive wave toward the target profits.

Buy Market Order @ 0.83210             

Target Profit 1 @ 0.83422

Target Profit 2 @ 0.83638

Stop Loss @ 0.82997

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.

One comment

  1. Hi Joe,

    EURGBP March 23rd : I thing you mistype the key support and resistance levels (1.xxxx etc). It suppose to be 0.8xxx

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