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EUR/GBP Violates Upward Channel – Sell Limit!

EUR/GBP Long-Term Trend: Choppy

Key Resistance Levels: 0.8635, 0.8657, 0.8669

Key Support Levels: 0.8602, 0.8589, 0.8568

Daily Chart:

The EUR/GBP cross is making a choppy movement around the 0.8600 level on the daily timeframe, holding below a vital resistance area of 0.8640. On the lower side, the pair is likely to target 0.8558 levels. There’s an upward trendline that’s likely to support the EUR/GBP pair around 0.8586 on a daily timeframe. However, the smaller timeframe seems to offer us a quick sell opportunity.

EUR/GBP Medium-Term Trend: Bearish

1-hour Chart:

Signal Idea:

On the hourly timeframe, the EUR/GBP has just violated an upward trendline around 0.8606 level and the same level may work as a strong resistance now. 200 periods MA is also holding up there to pressure the EUR/GBP. Check out a trade signal below.

Sell Limit Order @ 0.8615

TP 1 @ 0.8580

TP 2 @ 0.8566

Stop Loss @ 0.8650

Trade Safely 🙂

About Ali B.

Live Webinar Speaker & Derivatives (Forex, Commodities, and Indices) Analyst with the broad range of skills for evaluating financial data. Expert in investment trends, technical analysis, fundamental analysis, market sentiments, and trading psychology.

4 comments

  1. Hi there,
    Great entry, usually these entries arrive late. The reason is just to show the analysis?

    • Hi Tiago,

      I’m not sure if I get your question right. But if you mean price reaches to entry-level late, yes that happens in case of pending orders. You can place pending orders until there’s a new trade on the same pair.

  2. Hello you giving out free tips I paid for tips and I can’t get any as yet can some1 check email for telegram

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