EUR/GBP – 30M – SELLBesides a ‘Double bottom retreat down’ chart layout is existing. The chart forms ‘Double bottom retreat down’. this is a bearish signal. The pair is likely to go down.
The currency pair Euro/British Pound (EUR/GBP) goes from the descending trendline down.
A continuation of the downtrend down to the next support level at 0.85099 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.85312 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. which could be a negative chart signal. The currency pair is likely to fall.
Besides a ‘Northern Doji’ candle chart pattern is found. The chart forms ‘Northern Doji’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.85472 |
| 2nd High | 0.85460 |
| Next High | 0.85312 |
| Current Price | 0.85152 |
| Next Low | 0.85099 |
| 2nd Low | 0.85098 |
| 3rd Low | 0.84951 |
0.85312 – 0.85191 – 0.85164 – 0.85099 – 0.85098 – 0.84951
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Northern Doji