EUR/GBP – 30M – SELLThe pair Euro/British Pound (EUR/GBP) jumps from the descending trendline downwards
A continuation of the downward movement downwards to the next support at is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 0.86968 should be noted.
Consider stop-loss settings accordingly.
Besides a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which is often a bearish chart signal. The currency pair could go down.
Besides a ‘MACD crosses below signal’ indicator layout is found. The indicator shows ‘MACD crosses below signal’. which is often a bearish chart signal. The currency pair could go down.
Besides a ‘Last Engulfing Bottom:’ candlestick chart pattern is existing. The candles form ‘Last Engulfing Bottom:’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Last Engulfing Bottom:’ heading down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.87089 |
| 2nd High | 0.87085 |
| Next High | 0.86968 |
| Current Price | 0.86715 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
0.86968 – 0.87085 – 0.87089 – 0.86685 – 0.86924 – 0.86941 —
0.86755 – 0.86761 —
45.603193420553 – 42.084223491807 —
– —
0.86968 – 1769389200
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Last Engulfing Bottom: – Double bottom retreat down – – – – – – – –