EUR/GBP – 30M – SELLThe combination Euro/British Pound (EUR/GBP) goes from the bullish trendline downwards
A bearish descent downwards to the next support line at 0.82492 is expected.
Caution: A possible reversal of the trend in the direction of resistance at 0.82777 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Bearish Engulfing’ candle pattern is discovered. The chart forms ‘Bearish Engulfing’. which is a bearish signal. The currency 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 | 0.82952 |
| 2nd High | 0.82821 |
| Next High | 0.82777 |
| Current Price | 0.82523 |
| Next Low | 0.82492 |
| 2nd Low | 0.82304 |
| 3rd Low | 0.82243 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing