EUR/GBP – 1H – SELL

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

A continuation of the downtrend downwards to the next support at is considered certain.

Caution: A possible trend reversal in the direction of the resistance zone at 0.87112 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

And also a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is detected. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which is often a bearish chart scenario. The currency pair could go down.

And also a ‘Bearish Engulfing’ candlestick pattern is discovered. The candles form ‘Bearish Engulfing’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.

0.87112 – 0.87118 – 0.87121 – 0.86932 – 0.86852 – 0.86863 —
0.86976 – 0.86889 —
43.969047177674 – 39.173122276865 —
– —
0.87112 – 1772697600

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing – – – – – – – – –