EUR/GBP – 4H – SELLThe pair Euro/British Pound (EUR/GBP) goes from the bearish trendline down.
A continuation of the bearish trend downwards to the next support level at 0.82220 is expected.
Caution: A possible change in the direction of resistance at 0.83272 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Bearish Engulfing’ candlestick pattern is existing. The candles form ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83752 |
| 2nd High | 0.83642 |
| Next High | 0.83272 |
| Current Price | 0.83008 |
| Next Low | 0.82220 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing