EUR/GBP – 1H – SELLThe combination Euro/British Pound (EUR/GBP) moves from the bullish trendline down.
A bearish descent down to the next support at 0.82898 is likely expected.
Caution: A possible change in the direction of the resistance line at 0.83173 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Bearish Harami’ candle pattern is existing. The chart shows ‘Bearish Harami’. which 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 likelyhood of ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83281 |
| 2nd High | 0.83249 |
| Next High | 0.83173 |
| Current Price | 0.82966 |
| Next Low | 0.82898 |
| 2nd Low | 0.82742 |
| 3rd Low | 0.82625 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Harami