EUR/GBP – 30M – SELL

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

A continuation of the downtrend down to the next support line at 0.87015 will continue.

Caution: A possible reversal of the trend in the direction of the resistance zone at 0.87402 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘StochRSI %K line crosses above %D line’ indicator signal is existing. The indicator is ‘StochRSI %K line crosses above %D line’. this is usually a bullish chart scenario. The pair is likely to go up.

In addition a ‘Bearish Engulfing’ candlestick pattern is detected. The candles show ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.

0.87402 – 0.87245 – 0.87266 – 0.87116 – 0.87131 – 0.87157 —
0.87185 – 0.87076 —
31.403217551516 – 24.661551149668 —
– —
0.87402 – 1775586600

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