EUR/GBP – 30M – BUYThe currency pair Euro/British Pound (EUR/GBP) moves from the bullish trendline downwards
A bearish descent downwards to the next support level at 0.82764 will continue.
Caution: A possible trend reversal in the direction of resistance at 0.82983 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Bullish Engulfing’ chart pattern is existing. The candles form ‘Bullish Engulfing’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83141 |
| 2nd High | 0.83119 |
| Next High | 0.82983 |
| Current Price | 0.82968 |
| Next Low | 0.82764 |
| 2nd Low | 0.82746 |
| 3rd Low | 0.82705 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bullish Engulfing