EUR/GBP – 1H – SELL

The pair Euro/British Pound (EUR/GBP) jumps from the bullish trendline down.

A bearish trend downwards to the next support line at 0.82705 will persist.

Caution: A possible change in the direction of the resistance level at 0.83141 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will persist. Target of the current trend is 0.82746 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support level at 0.83141 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Also there is a ‘Bearish Engulfing’ candlestick pattern is detected. The candles form ‘Bearish Engulfing’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.

Download EUR/GBP Signal Image

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing