EUR/GBP – 1H – SELLCorrection of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Current target is 0.826805 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support level at 0.83119 should be noted.
Consider stop-loss settings accordingly.
In addition a ‘Three Black Crows’ candle chart pattern is found. The candles form ‘Three Black Crows’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance 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 | 0.82905 |
| Next Low | 0.82770 |
| 2nd Low | 0.82705 |
| 3rd Low | 0.82220 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows