EUR/GBP – 30M – SELLThe combination Euro/British Pound (EUR/GBP) goes from the bullish trendline downwards
A bearish movement downwards to the next support at 0.83134 is expected.
Caution: A possible change in the direction of the resistance zone at 0.83375 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bearish Engulfing’ candle pattern is existing. The candles form ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83581 |
| 2nd High | 0.83407 |
| Next High | 0.83375 |
| Current Price | 0.83290 |
| Next Low | 0.83134 |
| 2nd Low | 0.83128 |
| 3rd Low | 0.83093 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing