EUR/GBP – 1H – SELLThe combination Euro/British Pound (EUR/GBP) moves from the bearish trendline downwards
A continuation of the downtrend down to the next support level at 0.82720 is likely expected.
Caution: A possible trend reversal in the direction of the resistance zone at 0.82988 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bearish Belt Hold’ candle pattern is found. The candles form ‘Bearish Belt Hold’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83314 |
| 2nd High | 0.83281 |
| Next High | 0.82988 |
| Current Price | 0.82889 |
| Next Low | 0.82720 |
| 2nd Low | 0.82705 |
| 3rd Low | 0.82220 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Belt Hold