EUR/GBP – 1H – SELL

The currency pair Euro/British Pound (EUR/GBP) goes from the bearish trendline downwards

A continuation of the bearish trend down to the next support at 0.86936 is likely expected.

Caution: A possible counter-trend in the direction of the resistance line at 0.8717 could occur.
Consider stop-loss settings accordingly.

Furthermore a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. which could be a negative signal. The pair is likely to go down.

Furthermore a ‘Bearish Engulfing’ candle pattern is discovered. The candles form ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.

0.8717 – 0.87234 – 0.87198 – 0.86936 – 0.86824 – 0.86854 —
0.87165 – 0.87162 —
49.987098715615 – 56.977451254619 —
– —
0.8717 – 1770858000

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