EUR/GBP – 30M – SELLThe combination Euro/British Pound (EUR/GBP) moves from the descending trendline down.
A continuation of the bearish trend downwards to the next support line at 0.8663 is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 0.86922 could happen.
Consider stop-loss settings accordingly.
Next a ‘Support Level’ indicator layout is existing. The indicator shows ‘Support Level’. this is usually a bearish signal. The currency pair is likely to fall.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Current target is 0.8663 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of support at 0.86922 could happen.
Consider stop-loss settings accordingly.
Next a ‘Northern Doji’ candlestick chart pattern is found. 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 chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.87248 |
| 2nd High | 0.87085 |
| Next High | 0.86922 |
| Current Price | 0.86658 |
| Next Low | 0.8663 |
| 2nd Low | 0.86534 |
| 3rd Low | 0.86519 |
0.86922 – 0.86861 – 0.86778 – 0.8663 – 0.86662 – 0.86707 —
0.86759 – 0.86704 —
38.997202704898 – 34.877622104996 —
– —
0.86922 – 1768210200
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Northern Doji – Double top chart pattern – – – – – – – –