EUR/GBP – 1H – SELL

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

A descent down to the next support level at 0.87975 is likely expected.

Caution: A possible change in the direction of the resistance zone at 0.88391 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 0.8805657 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of the support level at 0.88391 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

Then a ‘Three Black Crows’ candle chart pattern is discovered. The candles show ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.

0.88391 – 0.88233 – 0.8865 – 0.87975 – 0.87895 – 0.88119 —
0.88256 – 0.88356 —
56.794141760186 – 59.890446196876 —
– —
0.88391 – 1763553600

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows – Rising Wedge Chart Pattern – – – –