EUR/GBP – 30M – SELLThe currency pair Euro/British Pound (EUR/GBP) jumps from the bearish trendline down.
A continuation of the bearish trend down to the next support at 0.82857 will persist.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.83051 could happen.
Consider stop-loss settings accordingly.
And also a ‘Bearish Engulfing’ candlestick pattern is detected. The chart shows ‘Bearish Engulfing’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83249 |
| 2nd High | 0.83173 |
| Next High | 0.83051 |
| Current Price | 0.82914 |
| Next Low | 0.82857 |
| 2nd Low | 0.82850 |
| 3rd Low | 0.82742 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing