EUR/GBP – 1H – SELLThe currency pair Euro/British Pound (EUR/GBP) moves from the bullish trendline downwards
A descending movement downwards to the next support level at 0.83302 is likely expected.
Caution: A possible trend reversal in the direction of the resistance line at 0.83642 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Bearish Engulfing’ candlestick chart pattern is discovered. The chart forms ‘Bearish Engulfing’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83959 |
| 2nd High | 0.83752 |
| Next High | 0.83642 |
| Current Price | 0.83333 |
| Next Low | 0.83302 |
| 2nd Low | 0.83088 |
| 3rd Low | 0.82675 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing