EUR/GBP – 4H – SELLThe pair Euro/British Pound (EUR/GBP) goes from the bullish trendline down.
A bearish trend down to the next support level at 0.82625 is likely expected.
Caution: A possible counter-trend in the direction of resistance at 0.83249 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Tweezers Top’ candle chart pattern is found. The chart forms ‘Tweezers Top’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83642 |
| 2nd High | 0.83281 |
| Next High | 0.83249 |
| Current Price | 0.82932 |
| Next Low | 0.82625 |
| 2nd Low | 0.82220 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Tweezers Top