EUR/GBP – 1H – SELL

The combination Euro/British Pound (EUR/GBP) moves from the descending trendline down.

A continuation of the downward movement down to the next support level at will continue.

Caution: A possible trend reversal in the direction of the resistance line at 0.86777 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is discovered. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bearish chart signal. The pair is likely to go down.

Next a ‘Bearish Engulfing’ candle pattern is found. The candles show ‘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 probability of ‘Bearish Engulfing’ heading down is 79%.

0.86777 – 0.86783 – 0.87197 – 0.86531 – 0.86636 – 0.87002 —
0.86752 – 0.86806 —
51.038216407231 – 47.269387621355 —
– —
0.86777 – 1776992400

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing – Rising Wedge Chart Pattern – – – – – – – –