EUR/GBP – 30M – SELLThe pair Euro/British Pound (EUR/GBP) goes from the bearish trendline downwards
A continuation of the downward movement down to the next support at 0.82845 is expected.
Caution: A possible change in the direction of the resistance line at 0.83249 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three Outside Down’ candlestick chart pattern is discovered. The candles form ‘Three Outside Down’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83314 |
| 2nd High | 0.83281 |
| Next High | 0.83249 |
| Current Price | 0.82903 |
| Next Low | 0.82845 |
| 2nd Low | 0.82795 |
| 3rd Low | 0.82753 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Down