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EUR/GBP Potential Upward Movement

EUR/GBP Long-Term Trend: Bullish

Key Resistance Levels: 0.8674, 0.8700, 0.8750

Key Support Levels: 0.8639, 0.8588, 0.8549

Daily Chart:

The price was in a downtrend before facing a strong support around the 0.8588 USD mark. This support halted the move to the downside and reversed the price to the upside by posting higher highs and lows.

EUR/GBP Medium-Term Trend: Bullish

1-hour Chart:

On the lower time frame, the price is trading inside a bullish channel formation. A lower correction is expected where a swing low is located. This area of confluence will cause the retracement to end and we might a move upward in the same direction of the main trend.

Signal Idea:

Buy Limit Order @ 0.8649

TP 1 @ 0.8674

TP 2 @ 0.8700

Stop Loss @ 0.8637

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. Owh no.. I should have check my alligator indicator because taking this order 🙁

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