EUR/GBP – 1H – SELLThe pair Euro/British Pound (EUR/GBP) jumps from the ascending trendline downwards
A descent down to the next support line at 0.82898 is expected.
Caution: A possible reversal of the trend in the direction of resistance at 0.83173 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Tweezers Top’ candle chart pattern is found. The candles form ‘Tweezers Top’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83281 |
| 2nd High | 0.83249 |
| Next High | 0.83173 |
| Current Price | 0.82932 |
| Next Low | 0.82898 |
| 2nd Low | 0.82742 |
| 3rd Low | 0.82625 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Tweezers Top