EUR/GBP – 1H – SELL

The currency pair Euro/British Pound (EUR/GBP) goes from the descending trendline down.

A continuation of the downward movement down to the next support line at 0.86932 is likely expected.

Caution: A possible trend reversal in the direction of the resistance level at 0.87112 is also possible.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Southern Doji’ candlestick pattern is discovered. The candles form ‘Southern Doji’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Southern Doji’ going up is 51% (Bull Market) & 52% (Bear Market).

0.87112 – 0.87118 – 0.87121 – 0.86932 – 0.86852 – 0.86863 —
0.86968 – 0.86930 —
39.180960860016 – 40.993266919726 —
– —
0.87112 – 1772697600

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Southern Doji – – – – – – – – –