EUR/GBP – 1H – SELLThe combination Euro/British Pound (EUR/GBP) goes from the ascending trendline downwards
A descending movement downwards to the next support line at 0.82220 will persist.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.83272 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Last Engulfing Bottom:’ candle pattern is existing. The chart forms ‘Last Engulfing Bottom:’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83386 |
| 2nd High | 0.83314 |
| Next High | 0.83272 |
| Current Price | 0.83060 |
| Next Low | 0.82220 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Last Engulfing Bottom: