A severe flood alert remains in place at Ironbridge, while the county town has two flood warnings.
The flooding has caused severe travel disruption, with several roads in Shrewsbury and Bridgnorth closed, and railway lines shut due to flooding.
Rob Davies, a Hydrometry & Telemetry officer with the Environment Agency, tweeted on Tuesday morning saying: "Good to see the River Severn levels going in the right direction at last and beginning to drop upstream of Shrewsbury. Hopefully it will drop quickly for all affected."
Shropshire Council also tweeted: "We’ve been informed that the Welsh Bridge gauge is peaking right now at 5.15m."
Earlier computer model predictions that a new Welsh Bridge record would be set overnight failed to materialise and on Tuesday morning it was still short of the 5.25m set in 2000.
In Ironbridge residents were urged to evacuated on Monday as a major incident was declared, with officials fearing the River Severn would rise higher than the flood barriers.
A new flood warning has also been issued at Sutton Wharf near Bridgnorth. It means there are now flood warnings at:
River Severn at the Wharfage, Ironbridge (severe)
River Severn at Bridgnorth
River Severn at Buildwas
River Severn at Buttington
River Severn at Criggion
River Severn at Fort Pendlestone and Severn Hall
River Severn at Hampton Loade and Highley
River Severn at Ironbridge and Jackfield
River Severn at Llandrinio
River Severn at Pentre
River Severn at Pool Quay and Trewern
River Severn at Quatford
River Severn at Shrawardine, Montford Bridge and Mytton
River Severn at Shrewsbury
River Severn at the Showground and The Quarry, Shrewsbury
River Severn at Sutton Wharf
River Severn at Welshpool
River Vyrnwy at Maesbrook
River Vyrnwy at Melverley
There are also flood alerts in place at:
Rea Brook and Cound Brook
River Severn in Shropshire
Tern and Perry catchments
Upper Severn in Powys
The flooding has led to a number of road closures and other travel disruption around Shropshire. In Shrewsbury the following roads are closed:
Gravel Hill Lane
Chester Street/Cross Street
Atcham to Cross Houses and Chiltern Farm Lane
Coleham Head Lane into Town Centre
Raven Meadows at the Roushill side
Cressage to Eaton Constantine
Atcham to Berwick Wharf
B4380 Shrewsbury to Atcham
Wyle Cop and English Bridge to Gyratory. The bottom of Wyle Cop is now only passable on foot if you have a pair of wellies, says Shropshire Council
A number of Shrewsbury car parks are also closed, with Abbey Foregate, Frankwell Main and St Julian’s Friar’s shut until further notice, Frankwell Riverside for the use of the Environment Agency only and Raven Meadows multi-storey closed due to a power outage.
Several roads in Ironbridge remain closed on Tuesday morning where the severe flood warning is in place. They are: Road closures
The Wharfage (and car park)
Dale End (and car park)
Waterloo Street (from 4pm)
Madeley Road has been reopened with temporary traffic lights.
The road closures in Ironbridge mean several buses have been diverted:
Telford & Wrekin Council said on Tuesday: "Services 8 & 18 are serving Madeley as normal, then diverting via the Ironbridge bypass direct to Much Wenlock, not serving the Gorge as the Lloyds is flooded and the section from the bottom of Madeley Bank is closed as well. No service to Jackfield either.
"Service 19 is currently diverting after Lightmoor via the Lawley bypass and M54/A5 due to B4380 flooded at Atcham."
In Bridgnorth the following roads are shut:
Footpath from Bylet to Wellmeadow
Severnside South Road and The Boat Yard
Riverside and Friars Street
A442 – Telford to Bridgnorth (Upstream of Bridgnorth and Fort Pendlestone
Riverside and Riverside West elevated car parks are also out of action.
Flooding forced the closure of the railway line between Shrewsbury and Wellington on Tuesday morning. The line had reopened by 10.45am, allowing trains to run from Shrewsbury to Wolverhampton again, but National Rail Enquiries warned that services may still be "cancelled, delayed by up to 60 minutes or revised whilst service recovers".
The railway line at Welshpool was also damaged by the floods on Monday, was water washed away the trackbed.
A spokesperson for Network Rail said: “We’re really sorry for the disruption to our passengers on the Cambrian Line.
"After the impact of storms Eunice and Franklin, our engineers are on site near Welshpool where severe flooding has meant we’ve had to close the railway for safety reasons.
"It’s too early right now to say when the railway will be open again, but we’ll update passengers and the wider community on our plans as soon as we have more information. In the meantime, we would encourage passengers to check before they travel for the most up-to-date advice.”
Shropshire Council has opened flood reception centres at Salvation Army, Salters Lane, in the Coleham area of Shrewsbury, and in Bridgnorth at Castle Hall, West Castle Street. They will offer advice and support to those who need it.
The authority's community wellbeing outreach team is also out in both towns.
Meanwhile in four fire appliances, including the Water Rescue Unit, were mobilised from Shrewsbury and Wellington at around 2.45am on Tuesday to rescue a person from floodwater in Smithfield Road, Shrewsbury.
Shropshire Fire and Rescue Service successfully rescued 14 people and four dogs from their homes from the Llanymynech area on Monday.
Ludlow's flood warning has been removed as river levels subside, but residents are warned they still pose a risk and flood alert for the wider area remains in place.