EUR/GBP – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 0.82386 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support line at 0.82828 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Bearish Engulfing’ chart pattern is existing. The chart shows ‘Bearish Engulfing’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.82938 |
| 2nd High | 0.82851 |
| Next High | 0.82828 |
| Current Price | 0.82481 |
| Next Low | 0.82386 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing