EUR/GBP – 30M – SELLThe pair Euro/British Pound (EUR/GBP) goes from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support level at 0.83044 is certain.
Caution: A possible counter-trend in the direction of the resistance zone at 0.83314 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Bearish Engulfing’ candle pattern is discovered. The chart shows ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83512 |
| 2nd High | 0.83386 |
| Next High | 0.83314 |
| Current Price | 0.82996 |
| Next Low | 0.83044 |
| 2nd Low | 0.83041 |
| 3rd Low | 0.82675 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing