EUR/GBP – 1H – SELLThe pair Euro/British Pound (EUR/GBP) moves from the descending trendline downwards
A continuation of the downtrend down to the next support at 0.86492 is likely expected.
Caution: A possible change in the direction of the resistance line at 0.86707 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is existing. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bearish chart signal. The currency pair could go down.
Then a ‘StochRSI %K line crosses below %D line’ indicator signal is existing. The indicator is ‘StochRSI %K line crosses below %D line’. this is usually a bearish chart signal. The currency pair could go down.
Then a ‘Resistance Level’ indicator signal is found. The indicator is ‘Resistance Level’. this is usually a bearish signal. The pair is likely to go down.
Then a ‘Bearish Engulfing’ candle pattern is detected. The candles show ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.87323 |
| 2nd High | 0.87156 |
| Next High | 0.86707 |
| Current Price | 0.86598 |
| Next Low | 0.86492 |
| 2nd Low | 0.86485 |
| 3rd Low | 0.86437 |
0.86707 – 0.86692 – 0.87156 – 0.86492 – 0.86485 – 0.86699 —
0.86707 – 0.86685 —
52.266848193875 – 51.614870801908 —
0.86707 – 1769706000 —
– 1769706000
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing – Double top retreat up – – – – – – – –