The combination Euro/British Pound (EUR/GBP) goes from the descending trendline down.
A continuation of the downtrend downwards to the next support level at 0.83670 is considered certain.
Caution: A possible counter-trend in the direction of the resistance level at 0.83847 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is detected. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative chart scenario. The currency pair could go down.
Then a ‘Double top chart pattern’ chart layout is existing. The chart forms ‘Double top chart pattern’. this is a bearish chart scenario. The currency pair is likely to go down.
Then a ‘Support Level’ indicator signal is discovered. The indicator is ‘Support Level’. this is usually a bearish signal. The currency pair could go down.
Support & Resistance | Price Range* |
---|---|
3rd High | 0.84279 |
2nd High | 0.84197 |
Next High | 0.83847 |
Current Price | 0.83625 |
Next Low | 0.83670 |
2nd Low | 0.83503 |
3rd Low | 0.82473 |
0.83847 – 0.84197 – 0.84279 – 0.83670 – 0.83503 – 0.83795