EUR/GBP – 30M – SELL

The pair Euro/British Pound (EUR/GBP) moves from the descending trendline down.

A continuation of the downward movement downwards to the next support line at 0.8707 is likely expected.

Caution: A possible reversal of the trend in the direction of resistance at 0.87427 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Bearish Engulfing’ candlestick pattern is detected. The chart shows ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.

0.87266 – 0.87427 – 0.87444 – 0.8707 – 0.87283 – 0.87272 —
0.87276 – 0.87244 —
58.02269484533 – 42.577492084604 —
– —
0.87266 – 1771984800

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing – Symmetrical Triangle Chart Pattern – – – – – – – –