EUR/GBP – 30M – SELLThe combination Euro/British Pound (EUR/GBP) goes from the descending trendline down.
A continuation of the bearish trend downwards to the next support at 0.86384 will continue.
Caution: A possible counter-trend in the direction of the resistance level at 0.86553 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Tweezers Top’ candle pattern is found. The chart shows ‘Tweezers Top’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.86864 |
| 2nd High | 0.86826 |
| Next High | 0.86553 |
| Current Price | 0.86421 |
| Next Low | 0.86384 |
| 2nd Low | 0.8635 |
| 3rd Low | 0.86147 |
0.86553 – 0.86551 – 0.86826 – 0.86384 – 0.864 – 0.86486 — 51.21941493183 – 41.292595361571 — 12.843965584063 – 12.843965584063 – 23.396435612673 – 14.720053174936
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Tweezers Top – Double top chart pattern – –