EUR/GBP – 30M – SELLThe combination Euro/British Pound (EUR/GBP) moves from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support at 0.82893 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 0.83007 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Bearish Engulfing’ candlestick pattern is detected. The chart forms ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83386 |
| 2nd High | 0.83314 |
| Next High | 0.83007 |
| Current Price | 0.82913 |
| Next Low | 0.82893 |
| 2nd Low | 0.82695 |
| 3rd Low | 0.82671 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing