EUR/GBP – 30M – SELL

The currency pair Euro/British Pound (EUR/GBP) jumps from the descending trendline downwards

A continuation of the downtrend down to the next support line at 0.86566 will persist.

Caution: A possible reversal of the trend in the direction of the resistance zone at 0.87007 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘MACD crosses below signal’ indicator layout is discovered. The indicator is ‘MACD crosses below signal’. this is usually a bearish chart signal. The currency pair is likely to fall.

Moreover a ‘Bearish Engulfing’ chart pattern is found. The candles form ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.

0.87007 – 0.8698 – 0.87112 – 0.86566 – 0.86844 – 0.86855 —
0.86715 – 0.86698 —
45.258993939862 – 43.193534593628 —
– —
0.87007 – 1772755200

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