EUR/GBP – 30M – SELLThe combination Euro/British Pound (EUR/GBP) jumps from the ascending trendline down.
A bearish movement downwards to the next support level at 0.86699 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.86968 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘ ‘ indicator layout is discovered. The indicator shows ‘ ‘. this is usually a bearish chart scenario. The currency pair is likely to fall.
Next a ‘MACD crosses below signal’ indicator layout is discovered. The indicator shows ‘MACD crosses below signal’. this is usually a bearish chart scenario. The currency pair is likely to fall.
Next a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. which could be a negative chart scenario. The pair is likely to go down.
Next a ‘Bearish Engulfing’ candlestick pattern is found. The chart shows ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.87089 |
| 2nd High | 0.87085 |
| Next High | 0.86968 |
| Current Price | 0.86935 |
| Next Low | 0.86699 |
| 2nd Low | 0.86653 |
| 3rd Low | 0.8665 |
0.86867 – 0.86824 – 0.86968 – 0.86699 – 0.86653 – 0.86677 —
0.86921 – 0.86988 —
56.274278319614 – 58.861581944294 —
– —
0.86867 – 1769481000
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing – – – – – – – – –