EUR/GBP – 4H – SELLThe currency pair Euro/British Pound (EUR/GBP) goes from the descending trendline down.
A continuation of the downtrend downwards to the next support level at is certain.
Caution: A possible change in the direction of the resistance zone at 0.87451 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is existing. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a positive chart scenario. The currency pair could go up.
And also a ‘MACD Hidden Bullish Divergence’ indicator layout is existing. The indicator shows ‘MACD Hidden Bullish Divergence’. which is often a bullish chart scenario. The currency pair could go up.
And also a ‘Bearish Harami Cross’ candlestick pattern is existing. The candles form ‘Bearish Harami Cross’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Harami Cross’ heading down is 57% (Bull Market) & 56% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.87964 |
| 2nd High | 0.87455 |
| Next High | 0.87451 |
| Current Price | 0.86891 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
0.87451 – 0.86922 – 0.86907 – 0.86576 – 0.86526 – 0.86512 —
0.86811 – 0.86854 —
43.281783985928 – 45.951857533923 —
– —
0.87451 – 1768996800
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Harami Cross – – – – – – – – –