EUR/GBP – 30M – SELL

Moreover a ‘Double bottom retreat down’ chart pattern is detected. The formation shows ‘Double bottom retreat down’. this is a bearish chart scenario. The currency pair is likely to go down.

The currency pair Euro/British Pound (EUR/GBP) goes from the bullish trendline down.

The bearish trend downwards to the next support line at 0.85098 will persist.

Caution: A possible change in the direction of the resistance level at 0.85307 is also possible.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which is often a bearish signal. The currency pair could go down.

Moreover a ‘Resistance Level’ indicator layout is existing. The indicator shows ‘Resistance Level’. which could be a negative chart signal. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will persist. Target of the current trend is 0.85117 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support level at 0.85307 is also possible.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Three Black Crows’ candle pattern is found. The chart shows ‘Three Black Crows’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.

0.85191 – 0.85164 – 0.85307 – 0.85098 – 0.84951 – 0.84927

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows