EUR/GBP – 1H – SELL

The combination Euro/British Pound (EUR/GBP) jumps from the descending trendline down.

A continuation of the downtrend down to the next support level at 0.86409 will continue.

Caution: A possible change in the direction of the resistance line at 0.86734 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘StochRSI %K line crosses below %D line’ indicator layout is existing. The indicator is ‘StochRSI %K line crosses below %D line’. which could be a negative chart signal. The currency pair is likely to fall.

Furthermore a ‘Bearish Engulfing’ candle chart pattern is detected. The candles form ‘Bearish Engulfing’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.

0.86734 – 0.86748 – 0.86707 – 0.86409 – 0.86492 – 0.86485 —
0.86708 – 0.86606 —
52.425502379232 – 43.066343504318 —
– —
0.86734 – 1770012000

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing – Double bottom chart pattern – – – – – – – –