EUR/GBP – 30M – SELLThe pair Euro/British Pound (EUR/GBP) jumps from the bearish trendline downwards
A continuation of the downward movement down to the next support at 0.82636 is considered certain.
Caution: A possible counter-trend in the direction of resistance at 0.83249 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Bearish Engulfing’ candle chart pattern is found. The candles show ‘Bearish Engulfing’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83314 |
| 2nd High | 0.83281 |
| Next High | 0.83249 |
| Current Price | 0.82929 |
| Next Low | 0.82636 |
| 2nd Low | 0.82625 |
| 3rd Low | 0.82220 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing