EUR/GBP – 1H – SELL

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

A continuation of the downward movement down to the next support level at 0.86844 is likely expected.

Caution: A possible change in the direction of resistance at 0.87007 is also possible.
Consider stop-loss settings accordingly.

Moreover a ‘Bearish Engulfing’ candle chart pattern is detected. The chart forms ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.

0.87007 – 0.87112 – 0.87118 – 0.86844 – 0.86932 – 0.86852 —
0.86815 – 0.86681 —
30.987140318702 – 37.603760366962 —
– —
0.87007 – 1772755200

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