EUR/GBP – 30M – BUYThe combination Euro/British Pound (EUR/GBP) goes from the descending trendline downwards
A continuation of the downward movement down to the next support level at 0.82663 will continue.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.82938 could occur.
Consider stop-loss settings accordingly.
And also a ‘Three Outside Down’ candle chart pattern is discovered. The chart forms ‘Three Outside Down’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83005 |
| 2nd High | 0.83002 |
| Next High | 0.82938 |
| Current Price | 0.82752 |
| Next Low | 0.82663 |
| 2nd Low | 0.82649 |
| 3rd Low | 0.82596 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Down