EUR/GBP – 1H – SELLThe pair Euro/British Pound (EUR/GBP) moves from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support level at 0.82663 is expected.
Caution: A possible change in the direction of the resistance line at 0.83002 should always be considered.
Consider stop-loss settings accordingly.
There is also a ‘Bearish Engulfing’ chart pattern is discovered. The chart shows ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83014 |
| 2nd High | 0.83005 |
| Next High | 0.83002 |
| Current Price | 0.82760 |
| Next Low | 0.82663 |
| 2nd Low | 0.82596 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing