EUR/GBP – 1H – SELLAnd also a ‘Double bottom retreat down’ chart layout is found. The chart shows ‘Double bottom retreat down’. which is a negative pattern signal. The currency pair is likely to go down.
The combination Euro/British Pound (EUR/GBP) moves from the ascending trendline down.
A bearish trend down to the next support at 0.86645 is expected.
Caution: A possible change in the direction of the resistance line at 0.86938 could occur.
Consider stop-loss settings accordingly.
And also a ‘Northern Doji’ candle pattern is discovered. The candles form ‘Northern Doji’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.87377 |
| Next High | 0.86938 |
| Current Price | 0.86783 |
| Next Low | 0.86645 |
| 2nd Low | 0.86093 |
| 3rd Low | 0.86081 |
0.86804 – 0.86481 – 0.8649 – 0.86645 – 0.86893 – 0.86093 — 59.534629378009 – 53.881151982802 — 61.521796004966 – 73.923639317628 – 60.392566997297 – 63.755913355162
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Northern Doji – Double bottom retreat down – –