EUR/GBP – 30M – SELLThe combination Euro/British Pound (EUR/GBP) moves from the descending trendline down.
A continuation of the downward movement downwards to the next support line at 0.82671 is considered certain.
Caution: A possible counter-trend in the direction of the resistance line at 0.83314 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Bearish Engulfing’ candle chart pattern is discovered. The chart shows ‘Bearish Engulfing’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability 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 | 0.82919 |
| Next Low | 0.82671 |
| 2nd Low | 0.82649 |
| 3rd Low | 0.82596 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing