EUR/GBP – 30M – SELLThe combination Euro/British Pound (EUR/GBP) moves from the bearish trendline downwards
A continuation of the bearish trend down to the next support level at 0.82492 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 0.82821 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bearish Engulfing’ candlestick chart pattern is found. The chart forms ‘Bearish Engulfing’. which is a bearish signal. The 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 | 0.83272 |
| 2nd High | 0.82952 |
| Next High | 0.82821 |
| Current Price | 0.82681 |
| Next Low | 0.82492 |
| 2nd Low | 0.82304 |
| 3rd Low | 0.82243 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing