EUR/GBP – 30M – SELLThe pair Euro/British Pound (EUR/GBP) jumps from the bearish trendline downwards
A continuation of the bearish trend down to the next support level at 0.82770 is certain.
Caution: A possible counter-trend in the direction of resistance at 0.83046 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bearish Engulfing’ candle chart pattern is found. The candles show ‘Bearish Engulfing’. this 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’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83272 |
| 2nd High | 0.83141 |
| Next High | 0.83046 |
| Current Price | 0.83037 |
| Next Low | 0.82770 |
| 2nd Low | 0.82705 |
| 3rd Low | 0.82220 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing