EUR/GBP – 30M – SELLThe pair Euro/British Pound (EUR/GBP) moves from the descending trendline downwards
A continuation of the downward movement down to the next support at 0.82695 is certain.
Caution: A possible reversal of the trend in the direction of resistance at 0.83314 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Bearish Engulfing’ candlestick chart pattern is detected. The chart forms ‘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 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 | 0.82923 |
| Next Low | 0.82695 |
| 2nd Low | 0.82671 |
| 3rd Low | 0.82649 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing