EUR/GBP – 30M – SELLThe combination Euro/British Pound (EUR/GBP) jumps from the ascending trendline downwards
The bearish trend down to the next support line at 0.82832 is likely expected.
Caution: A possible trend reversal in the direction of resistance at 0.84061 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Tweezers Top’ candlestick pattern is found. The chart shows ‘Tweezers Top’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.84061 |
| Current Price | 0.83708 |
| Next Low | 0.82832 |
| 2nd Low | 0.82742 |
| 3rd Low | 0.82636 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Tweezers Top