EUR/GBP – 1H – BUYThe currency pair Euro/British Pound (EUR/GBP) moves from the ascending trendline downwards
A bearish descent downwards to the next support line at 0.83635 is certain.
Caution: A possible reversal of the trend in the direction of resistance at 0.84061 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Bullish Engulfing’ candlestick chart pattern is discovered. The candles show ‘Bullish Engulfing’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.84061 |
| Current Price | 0.83851 |
| Next Low | 0.83635 |
| 2nd Low | 0.82832 |
| 3rd Low | 0.82742 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bullish Engulfing