EUR/GBP – 30M – SELLThe currency pair Euro/British Pound (EUR/GBP) jumps from the descending trendline down.
A continuation of the downtrend down to the next support level at 0.82832 will persist.
Caution: A possible counter-trend in the direction of resistance at 0.84061 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Bearish Engulfing’ chart pattern is discovered. The chart shows ‘Bearish Engulfing’. which is a negative pattern 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 | |
| 2nd High | |
| Next High | 0.84061 |
| Current Price | 0.83706 |
| Next Low | 0.82832 |
| 2nd Low | 0.82742 |
| 3rd Low | 0.82636 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing