EUR/GBP – 30M – SELLThe pair Euro/British Pound (EUR/GBP) jumps from the bullish trendline down.
A bearish descent down to the next support line at 0.82838 will persist.
Caution: A possible change in the direction of the resistance zone at 0.82987 should be noted.
Consider stop-loss settings accordingly.
Next a ‘Bearish Belt Hold’ candlestick chart pattern is found. The chart forms ‘Bearish Belt Hold’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83314 |
| 2nd High | 0.83281 |
| Next High | 0.82987 |
| Current Price | 0.82892 |
| Next Low | 0.82838 |
| 2nd Low | 0.82815 |
| 3rd Low | 0.82764 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Belt Hold