EUR/GBP – 30M – SELL

The pair Euro/British Pound (EUR/GBP) jumps from the bearish trendline down.

A continuation of the downtrend downwards to the next support level at 0.86865 is certain.

Caution: A possible change in the direction of the resistance line at 0.87011 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is existing. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which is often a bearish signal. The currency pair is likely to fall.

Next a ‘Resistance Level’ indicator signal is found. The indicator shows ‘Resistance Level’. which is often a bearish signal. The pair is likely to go down.

Next a ‘Last Engulfing Bottom:’ chart pattern is detected. The chart forms ‘Last Engulfing Bottom:’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Last Engulfing Bottom:’ heading down is 65% (Bull Market) & 67% (Bear Market).

0.87011 – 0.86976 – 0.87136 – 0.86865 – 0.86868 – 0.86841 —
0.86979 – 0.86943 —
52.582774190739 – 40.684896837881 —
– —
0.87011 – 1776299400

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Last Engulfing Bottom: – Rising Wedge Chart Pattern – – – – – – – –