EUR/GBP – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Current target is 0.82685 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support level at 0.82965 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bearish Engulfing’ candle chart pattern is detected. The candles form ‘Bearish Engulfing’. this is a bearish 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 | 0.83123 |
| 2nd High | 0.83014 |
| Next High | 0.82965 |
| Current Price | 0.82757 |
| Next Low | 0.82691 |
| 2nd Low | 0.82685 |
| 3rd Low | 0.82671 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing