EUR/GBP – 30M – SELLThe currency pair Euro/British Pound (EUR/GBP) moves from the bearish trendline down.
A continuation of the bearish trend down to the next support line at 0.82718 will persist.
Caution: A possible trend reversal in the direction of resistance at 0.83005 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Bearish Engulfing’ candle pattern is discovered. The chart forms ‘Bearish Engulfing’. 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 success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83123 |
| 2nd High | 0.83014 |
| Next High | 0.83005 |
| Current Price | 0.82893 |
| Next Low | 0.82718 |
| 2nd Low | 0.82691 |
| 3rd Low | 0.82685 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing