EUR/GBP – 30M – SELL

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

A continuation of the bearish trend down to the next support line at 0.85703 will persist.

Caution: A possible reversal of the trend in the direction of resistance at 0.85894 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is detected. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative chart scenario. The currency pair is likely to fall.

In addition a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. which could be a negative chart scenario. The pair is likely to go down.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Current target is 0.856765 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of support at 0.85894 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Three Outside Down’ candle pattern is discovered. The chart shows ‘Three Outside Down’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

0.85894 – 0.85969 – 0.85875 – 0.85703 – 0.85567 – 0.85391

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Down – Head and Shoulder chart pattern