EUR/GBP – 1H – SELLThe pair Euro/British Pound (EUR/GBP) jumps from the descending trendline downwards
A continuation of the bearish trend down to the next support at is expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.82828 could occur.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Bearish Engulfing’ candle pattern is discovered. The chart shows ‘Bearish Engulfing’. which is a negative signal. The pair is likely to go down. 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 | 0.83002 |
| 2nd High | 0.82851 |
| Next High | 0.82828 |
| Current Price | 0.82293 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing