EUR/GBP – 30M – SELLThe currency pair Euro/British Pound (EUR/GBP) moves from the ascending trendline downwards
A bearish movement down to the next support line at 0.83302 is certain.
Caution: A possible trend reversal in the direction of the resistance line at 0.83609 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bearish Engulfing’ candle chart pattern is found. The candles form ‘Bearish Engulfing’. which is a bearish 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%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83959 |
| 2nd High | 0.83752 |
| Next High | 0.83609 |
| Current Price | 0.83434 |
| Next Low | 0.83302 |
| 2nd Low | 0.83088 |
| 3rd Low | 0.83041 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing