EUR/GBP – 1H – SELLThe currency pair Euro/British Pound (EUR/GBP) jumps from the descending trendline down.
A continuation of the downtrend downwards to the next support level at 0.86576 will persist.
Caution: A possible trend reversal in the direction of the resistance zone at 0.86968 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is discovered. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bearish chart signal. The pair is likely to go down.
Moreover a ‘Resistance Level’ indicator layout is discovered. The indicator shows ‘Resistance Level’. which could be a negative chart scenario. The pair is likely to go down.
Moreover a ‘Bearish Engulfing’ chart pattern is found. The chart forms ‘Bearish Engulfing’. 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 success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.87451 |
| 2nd High | 0.87323 |
| Next High | 0.86968 |
| Current Price | 0.86814 |
| Next Low | 0.86576 |
| 2nd Low | 0.86526 |
| 3rd Low | 0.86512 |
0.86968 – 0.87323 – 0.87451 – 0.86576 – 0.86924 – 0.86941 —
0.86799 – 0.86859 —
47.216434145858 – 52.709865971739 —
– —
0.86968 – 1769389200
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing – – – – – – – – –