EUR/GBP – 30M – SELLThe currency pair Euro/British Pound (EUR/GBP) moves from the bearish trendline downwards
A continuation of the downtrend downwards to the next support line at 0.82793 is expected.
Caution: A possible change in the direction of the resistance zone at 0.82988 is also possible.
Consider stop-loss settings accordingly.
In addition a ‘Bearish Engulfing’ candle pattern is discovered. The candles show ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83314 |
| 2nd High | 0.83281 |
| Next High | 0.82988 |
| Current Price | 0.82915 |
| Next Low | 0.82793 |
| 2nd Low | 0.82720 |
| 3rd Low | 0.82705 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing