EUR/GBP – 1H – SELLThe currency pair Euro/British Pound (EUR/GBP) jumps from the descending trendline down.
A continuation of the bearish trend down to the next support line at 0.8663 is expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.86922 could occur.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Tweezers Top’ candlestick chart pattern is discovered. The chart forms ‘Tweezers Top’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.87455 |
| 2nd High | 0.87248 |
| Next High | 0.86922 |
| Current Price | 0.86658 |
| Next Low | 0.8663 |
| 2nd Low | 0.86437 |
| 3rd Low | 0.86321 |
0.86922 – 0.86861 – 0.86907 – 0.8663 – 0.86644 – 0.86437 —
0.86911 – 0.86706 —
55.962553554338 – 38.255832143437 —
– —
0.86922 – 1768208400
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Tweezers Top – Double top chart pattern – – – – – – – –