EUR/GBP – 4H – SELL

The currency pair Euro/British Pound (EUR/GBP) moves from the ascending trendline downwards

A bearish movement downwards to the next support level at is likely expected.

Caution: A possible reversal of the trend in the direction of the resistance zone at 0.86922 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which is often a bearish chart scenario. The pair is likely to go down.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Current target is 0.86946 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support zone at 0.86922 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Matching Low’ candle chart pattern is existing. The chart forms ‘Matching Low’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).

0.86922 – 0.86907 – 0.87455 – 0.86526 – 0.86512 – 0.86437 —
0.87279 – 0.87323 —
74.142842608705 – 63.387719538083 —
– —
0.86922 – 1768204800

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Matching Low – Double top retreat up – – – – – – – –