EUR/GBP Long-Term Trend: Choppy
Key Resistance Levels: 0.8635, 0.8657, 0.8669
Key Support Levels: 0.8602, 0.8589, 0.8568
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
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 🙂