EUR/GBP – 1H – SELL

The currency pair Euro/British Pound (EUR/GBP) goes from the descending trendline down.

A continuation of the downtrend downwards to the next support line at 0.86194 is likely expected.

Caution: A possible counter-trend in the direction of the resistance level at 0.86328 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

Besides a ‘Bearish Engulfing’ candlestick pattern is discovered. The candles show ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.

0.86328 – 0.8651 – 0.86545 – 0.86194 – 0.86209 – 0.86269 —
0.86291 – 0.86298 —
48.479252959399 – 48.047607800575 —
– —
0.86328 – 1781092800

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing – – – – – – – – –