EUR/GBP – 30M – SELL

The combination Euro/British Pound (EUR/GBP) goes from the bullish trendline downwards

The bearish trend downwards to the next support at 0.87141 is likely expected.

Caution: A possible trend reversal in the direction of the resistance zone at 0.87577 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Last Engulfing Bottom:’ candle pattern is detected. The candles form ‘Last Engulfing Bottom:’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).

0.87577 – 0.87304 – 0.87312 – 0.87141 – 0.87064 – 0.87071 —
0.87484 – 0.87644 —
61.538620658682 – 63.147011978089 —
– —
0.87577 – 1772136000

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Last Engulfing Bottom: – Head and Shoulder chart pattern – – – – – – – –