EUR/GBP – 30M – SELLThe pair Euro/British Pound (EUR/GBP) jumps from the ascending trendline down.
A descent downwards to the next support at 0.83635 will persist.
Caution: A possible counter-trend in the direction of resistance at 0.84061 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Bearish Separating Lines’ candle chart pattern is found. The chart shows ‘Bearish Separating Lines’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Separating Lines’ heading down is 63% (Bull Market) & 76% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.84061 |
| Current Price | 0.83726 |
| Next Low | 0.83635 |
| 2nd Low | 0.82832 |
| 3rd Low | 0.82742 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Separating Lines