EUR/GBP – 4H – BUY

The combination Euro/British Pound (EUR/GBP) jumps from the bearish trendline downwards

A continuation of the downtrend downwards to the next support level at 0.82625 will continue.

Caution: A possible change in the direction of the resistance zone at 0.83249 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Current target is 0.827505 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support line at 0.83249 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Also there is a ‘Three Outside Down’ candlestick pattern is existing. The chart shows ‘Three Outside Down’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

Download EUR/GBP Signal Image

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Down