EUR/GBP – 1H – SELLThe pair Euro/British Pound (EUR/GBP) moves from the bearish trendline downwards
A continuation of the downtrend downwards to the next support line at 0.86485 will continue.
Caution: A possible trend reversal in the direction of the resistance level at 0.87156 could occur.
Consider stop-loss settings accordingly.
Furthermore a ‘Support Level’ indicator layout is existing. The indicator shows ‘Support Level’. which is often a bearish signal. The pair is likely to go down.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Target of the current trend is 0.86485 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support level at 0.87156 could occur.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Outside Down’ candlestick chart pattern is existing. The chart forms ‘Three Outside Down’. this 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’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.87451 |
| 2nd High | 0.87323 |
| Next High | 0.87156 |
| Current Price | 0.86633 |
| Next Low | 0.86485 |
| 2nd Low | |
| 3rd Low |
0.87156 – 0.86867 – 0.86968 – 0.86485 – 0.86699 – 0.86653 —
0.86566 – 0.86692 —
27.338680479471 – 45.508404844122 —
0.86485 – 1769634000 —
0.87156 – 1769551200
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Down – Inverse Head and Shoulder chart pattern – – – – – – – –