EUR/GBP – 30M – SELLThe pair Euro/British Pound (EUR/GBP) moves from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support line at 0.82663 is considered certain.
Caution: A possible change in the direction of resistance at 0.82938 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Bearish Engulfing’ candle pattern is found. The candles form ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83005 |
| 2nd High | 0.83002 |
| Next High | 0.82938 |
| Current Price | 0.82754 |
| Next Low | 0.82663 |
| 2nd Low | 0.82649 |
| 3rd Low | 0.82596 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing