EUR/GBP – 4H – SELL

The currency pair Euro/British Pound (EUR/GBP) moves from the ascending trendline downwards

A bearish trend down to the next support at 0.87665 will continue.

Caution: A possible change in the direction of the resistance line at 0.8865 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Then a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is existing. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bearish signal. The pair is likely to go down.

Then a ‘Resistance Level’ indicator signal is detected. The indicator shows ‘Resistance Level’. which could be a negative signal. The currency pair could go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will continue. Current target is 0.87603 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support line at 0.8865 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Then a ‘Three Outside Down’ candlestick chart pattern is discovered. The candles form ‘Three Outside Down’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

0.8865 – 0.88291 – 0.88171 – 0.87665 – 0.87617 – 0.86638 —
0.88283 – 0.88233 —
46.185712778298 – 49.937557288766 —
– —
0.88650 – 1763107200

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