EUR/GBP – 30M – SELLThe currency pair Euro/British Pound (EUR/GBP) moves from the descending trendline downwards
A continuation of the downtrend downwards to the next support level at 0.86685 is certain.
Caution: A possible change in the direction of resistance at 0.86824 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘%K crosses below %D’ indicator signal is existing. The indicator shows ‘%K crosses below %D’. which could be a negative chart scenario. The currency pair is likely to fall.
In addition a ‘Bearish Engulfing’ candle chart pattern is existing. The candles form ‘Bearish Engulfing’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.87085 |
| 2nd High | 0.86968 |
| Next High | 0.86824 |
| Current Price | 0.86749 |
| Next Low | 0.86685 |
| 2nd Low | 0.8665 |
| 3rd Low | 0.86631 |
0.86824 – 0.86968 – 0.87085 – 0.86685 – 0.86924 – 0.86941 —
0.86824 – 0.86790 —
51.103448988415 – 48.915379691955 —
0.86824 – 1769441400 —
– 1769441400
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing – – – – – – – – –