EUR/GBP – 4H – SELLThe pair Euro/British Pound (EUR/GBP) jumps from the descending trendline down.
A continuation of the downward movement down to the next support line at 0.82746 will continue.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.83141 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three Black Crows’ candlestick pattern is detected. The chart shows ‘Three Black Crows’. which is a bearish 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’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83642 |
| 2nd High | 0.83272 |
| Next High | 0.83141 |
| Current Price | 0.82869 |
| Next Low | 0.82746 |
| 2nd Low | 0.82220 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows