EUR/GBP – 30M – SELLThe pair Euro/British Pound (EUR/GBP) jumps from the descending trendline downwards
A continuation of the bearish trend down to the next support level at 0.82850 is expected.
Caution: A possible trend reversal in the direction of the resistance line at 0.83173 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bearish Belt Hold’ candle chart pattern is discovered. The chart forms ‘Bearish Belt Hold’. 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 chance of ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83281 |
| 2nd High | 0.83249 |
| Next High | 0.83173 |
| Current Price | 0.82972 |
| Next Low | 0.82850 |
| 2nd Low | 0.82742 |
| 3rd Low | 0.82636 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Belt Hold