EUR/GBP – 1H – SELL

The pair Euro/British Pound (EUR/GBP) moves from the bullish trendline downwards

A bearish descent down to the next support line at 0.86923 is certain.

Caution: A possible counter-trend in the direction of the resistance level at 0.87197 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘StochRSI %K line crosses below %D line’ indicator layout is discovered. The indicator is ‘StochRSI %K line crosses below %D line’. which could be a negative chart scenario. The currency pair is likely to fall.

Moreover a ‘Last Engulfing Bottom:’ candlestick pattern is found. The candles form ‘Last Engulfing Bottom:’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).

0.87197 – 0.87156 – 0.87122 – 0.87002 – 0.86923 – 0.86893 —
0.87026 – 0.87004 —
35.688508517038 – 33.989021977869 —
– —
0.87197 – 1776769200

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Last Engulfing Bottom: – – – – – – – – –