EUR/GBP – 30M – SELL

The currency pair Euro/British Pound (EUR/GBP) jumps from the bullish trendline downwards

A descending movement down to the next support at 0.87002 is likely expected.

Caution: A possible change in the direction of the resistance line at 0.87156 should be noted.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. which could be a negative signal. The pair is likely to go down.

Moreover a ‘Bearish Engulfing’ candlestick pattern is existing. The candles form ‘Bearish Engulfing’. this is a bearish signal. The currency 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%.

0.87156 – 0.87122 – 0.87227 – 0.87002 – 0.86923 – 0.86893 —
0.87086 – 0.87114 —
53.127593979642 – 58.121629136865 —
– —
0.87156 – 1776677400

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing – – – – – – – – –