EUR/GBP – 30M – SELLThe currency pair Euro/British Pound (EUR/GBP) moves from the ascending trendline down.
A descent downwards to the next support level at 0.82850 is likely expected.
Caution: A possible trend reversal in the direction of resistance at 0.83003 could happen.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Last Engulfing Bottom:’ candlestick chart pattern is detected. The candles show ‘Last Engulfing Bottom:’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Bottom:’ heading down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83249 |
| 2nd High | 0.83027 |
| Next High | 0.83003 |
| Current Price | 0.82973 |
| Next Low | 0.82850 |
| 2nd Low | 0.82742 |
| 3rd Low | 0.82636 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Last Engulfing Bottom: