EUR/GBP – 30M – SELLCorrection of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Target of the current trend is 0.82798304 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of the support level at 0.83119 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three Black Crows’ chart pattern is existing. The candles form ‘Three Black Crows’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83272 |
| 2nd High | 0.83141 |
| Next High | 0.83119 |
| Current Price | 0.82902 |
| Next Low | 0.82773 |
| 2nd Low | 0.82770 |
| 3rd Low | 0.82705 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows