EUR/GBP – 30M – SELL

The combination Euro/British Pound (EUR/GBP) goes from the descending trendline downwards

A continuation of the downtrend downwards to the next support line at 0.86695 will continue.

Caution: A possible change in the direction of the resistance zone at 0.86968 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘MACD crosses below signal’ indicator layout is discovered. The indicator is ‘MACD crosses below signal’. this is usually a bearish chart signal. The pair is likely to go down.

Next a ‘Bearish Engulfing’ candle pattern is detected. The chart shows ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.

0.86968 – 0.87085 – 0.87089 – 0.86924 – 0.86941 – 0.87084 —
0.86817 – 0.86811 —
52.4300002866 – 46.217924470485 —
– —
0.86968 – 1769389200

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing – – – – – – – – –