EUR/GBP – 30M – SELLThe pair Euro/British Pound (EUR/GBP) goes from the descending trendline down.
A continuation of the downward movement downwards to the next support at 0.8663 will continue.
Caution: A possible change in the direction of the resistance level at 0.86922 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘MACD crosses above signal’ indicator layout is existing. The indicator shows ‘MACD crosses above signal’. which could be a positive chart signal. The pair is likely to go up.
Besides a ‘Matching Low’ candle chart pattern is found. The chart forms ‘Matching Low’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.87248 |
| 2nd High | 0.87085 |
| Next High | 0.86922 |
| Current Price | 0.86691 |
| Next Low | 0.8663 |
| 2nd Low | 0.86534 |
| 3rd Low | 0.86519 |
0.86922 – 0.86861 – 0.86778 – 0.8663 – 0.86662 – 0.86707 —
0.86716 – 0.86702 —
27.92937512078 – 41.793224077318 —
– —
0.86922 – 1768210200
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Matching Low – Double bottom retreat down – – – – – – – –