EUR/GBP – 30M – SELL

The combination Euro/British Pound (EUR/GBP) jumps from the descending trendline down.

A continuation of the downtrend downwards to the next support level at 0.86221 is likely expected.

Caution: A possible trend reversal in the direction of the resistance level at 0.86403 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Bearish Engulfing’ candle chart pattern is detected. The candles show ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.

0.86403 – 0.86657 – 0.86735 – 0.86221 – 0.86196 – 0.86166 —
0.86329 – 0.86357 —
53.990038793039 – 55.693714055479 —
– —
0.86403 – 1777656600

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