EUR/GBP – 1H – SELL

Besides a ‘StochRSI %K line crosses below %D line’ indicator layout is detected. The indicator is ‘StochRSI %K line crosses below %D line’. which could be a negative chart signal. The currency pair could go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 0.86662 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of support at 0.87206 should always be considered.
Consider stop-loss settings accordingly.

Besides a ‘Bearish Engulfing’ candle pattern is discovered. The chart shows ‘Bearish Engulfing’. 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 success rate of a ‘Bearish Engulfing’ heading down is 79%.

0.87206 – 0.8636 – 0.86734 – 0.86724 – 0.86118 – 0.86192 —
0.86834 – 0.86930 —
42.105431825058 – 56.461970361372 —
– —
0.87206 – 1770310800

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing – Double bottom retreat down – – – – – – – –