EUR/GBP – 30M – SELLThe combination Euro/British Pound (EUR/GBP) moves from the descending trendline downwards
A continuation of the downward movement downwards to the next support at 0.82770 is considered certain.
Caution: A possible trend reversal in the direction of resistance at 0.83046 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three Black Crows’ chart pattern is detected. The candles show ‘Three Black Crows’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83272 |
| 2nd High | 0.83141 |
| Next High | 0.83046 |
| Current Price | 0.82944 |
| Next Low | 0.82770 |
| 2nd Low | 0.82705 |
| 3rd Low | 0.82220 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows