EUR/GBP – 4H – SELLThe pair Euro/British Pound (EUR/GBP) moves from the bearish trendline downwards
A continuation of the downward movement downwards to the next support line at 0.82685 will continue.
Caution: A possible counter-trend in the direction of the resistance level at 0.83123 should be noted.
Consider stop-loss settings accordingly.
Besides a ‘Bearish Engulfing’ candle pattern is existing. The chart shows ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83752 |
| 2nd High | 0.83642 |
| Next High | 0.83123 |
| Current Price | 0.82754 |
| Next Low | 0.82685 |
| 2nd Low | 0.82671 |
| 3rd Low | 0.82596 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing