EUR/GBP – 30M – SELL

The pair Euro/British Pound (EUR/GBP) goes from the bearish trendline down.

A continuation of the downtrend down to the next support level at 0.86227 is expected.

Caution: A possible change in the direction of the resistance line at 0.86368 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘Bearish Engulfing’ chart pattern is found. The candles show ‘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 success rate of a ‘Bearish Engulfing’ heading down is 79%.

0.86368 – 0.86418 – 0.86476 – 0.86227 – 0.86327 – 0.8633 —
0.86349 – 0.86378 —
50.935281438116 – 61.549568575847 —
– —
0.86368 – 1778022000

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Engulfing – Rising Wedge Chart Pattern – – – – – – – –