EUR/GBP – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Current target is 0.82347 at the Fibonacci level 0-Level. Caution: A possible change in the direction of support at 0.82461 could be enabled.
Consider stop-loss settings accordingly.
There is also a ‘Bearish Engulfing’ candlestick pattern is existing. The candles show ‘Bearish Engulfing’. which is a bearish pattern signal. 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 | 0.82851 |
| 2nd High | 0.82828 |
| Next High | 0.82461 |
| Current Price | 0.82434 |
| Next Low | 0.82347 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing