EUR/GBP – 30M – SELLThe currency pair Euro/British Pound (EUR/GBP) jumps from the descending trendline down.
A continuation of the bearish trend downwards to the next support line at 0.82386 will continue.
Caution: A possible trend reversal in the direction of resistance at 0.82461 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Bearish Engulfing’ candlestick pattern is discovered. The candles form ‘Bearish Engulfing’. this is a bearish pattern signal. 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 | 0.82851 |
| 2nd High | 0.82828 |
| Next High | 0.82461 |
| Current Price | 0.82401 |
| Next Low | 0.82386 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing