EUR/GBP – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Target of the current trend is 0.82297 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support line at 0.82777 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bearish Engulfing’ candle pattern is detected. The chart shows ‘Bearish Engulfing’. which is a bearish chart scenario. 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 | 0.82952 |
| 2nd High | 0.82821 |
| Next High | 0.82777 |
| Current Price | 0.82407 |
| Next Low | 0.82297 |
| 2nd Low | 0.82243 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing