EUR/GBP – 1H – SELL

The combination Euro/British Pound (EUR/GBP) jumps from the bullish trendline downwards

The bearish trend down to the next support at 0.8636 is considered certain.

Caution: A possible change in the direction of the resistance level at 0.86657 is within the realm of possibility.
Consider stop-loss settings accordingly.

Next a ‘Three Outside Down’ chart pattern is found. The chart forms ‘Three Outside Down’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

0.86487 – 0.86418 – 0.86476 – 0.8636 – 0.86273 – 0.86227 —
0.86547 – 0.86533 —
64.582400519105 – 59.941291504701 —
– —
0.86487 – 1778072400

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