EUR/GBP – 1H – SELLThe currency pair Euro/British Pound (EUR/GBP) goes from the bullish trendline downwards
A descent downwards to the next support level at 0.82724 is certain.
Caution: A possible trend reversal in the direction of resistance at 0.83272 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Evening Star’ candlestick chart pattern is discovered. The chart shows ‘Evening Star’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Evening Star’ going down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83386 |
| 2nd High | 0.83314 |
| Next High | 0.83272 |
| Current Price | 0.82881 |
| Next Low | 0.82724 |
| 2nd Low | 0.82243 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Evening Star