EUR/GBP – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Current target is 0.82834028 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support line at 0.82983 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Bearish Engulfing’ candlestick pattern is detected. The candles form ‘Bearish Engulfing’. which is a bearish pattern signal. The currency 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 | 0.83141 |
| 2nd High | 0.83119 |
| Next High | 0.82983 |
| Current Price | 0.82903 |
| Next Low | 0.82764 |
| 2nd Low | 0.82746 |
| 3rd Low | 0.82705 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing