EUR/GBP – 30M – SELLThe currency pair Euro/British Pound (EUR/GBP) moves from the ascending trendline downwards
The bearish trend down to the next support line at 0.83467 is expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.83752 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bearish Engulfing’ chart pattern is detected. The candles form ‘Bearish Engulfing’. which is a bearish 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 ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.84184 |
| 2nd High | 0.83959 |
| Next High | 0.83752 |
| Current Price | 0.83537 |
| Next Low | 0.83467 |
| 2nd Low | 0.83316 |
| 3rd Low | 0.83229 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing