EUR/GBP – 1H – SELLThe currency pair Euro/British Pound (EUR/GBP) jumps from the bullish trendline down.
A bearish descent downwards to the next support level at 0.82815 is certain.
Caution: A possible change in the direction of the resistance line at 0.83281 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Black Crows’ candle pattern is found. The chart shows ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83386 |
| 2nd High | 0.83314 |
| Next High | 0.83281 |
| Current Price | 0.82866 |
| Next Low | 0.82815 |
| 2nd Low | 0.82746 |
| 3rd Low | 0.82705 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows