EUR/GBP – 30M – SELL

The combination Euro/British Pound (EUR/GBP) moves from the bearish trendline downwards

A continuation of the downtrend down to the next support line at is expected.

Caution: A possible counter-trend in the direction of the resistance line at 0.86707 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is detected. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bearish chart signal. The currency pair is likely to fall.

Besides a ‘Bearish Engulfing’ candle chart pattern is existing. The candles form ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.

0.86707 – 0.86692 – 0.87156 – 0.86495 – 0.86492 – 0.86485 —
0.86682 – 0.86636 —
54.290560662714 – 43.335279086167 —
– —
0.86707 – 1769707800

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing – Double bottom chart pattern – – – – – – – –