EUR/GBP – 4H – SELLThe pair Euro/British Pound (EUR/GBP) goes from the descending trendline down.
A continuation of the bearish trend downwards to the next support level at 0.82685 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 0.83123 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Three Line Strike – Bearish’ chart pattern is detected. The chart shows ‘Three Line Strike – Bearish’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Line Strike – Bearish’ heading down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83752 |
| 2nd High | 0.83642 |
| Next High | 0.83123 |
| Current Price | 0.82702 |
| Next Low | 0.82685 |
| 2nd Low | 0.82671 |
| 3rd Low | 0.82596 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Line Strike – Bearish