EUR/GBP – 1H – SELLCorrection of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Current target is 0.83388 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support line at 0.83728 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Black Crows’ chart pattern is found. The candles form ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.84184 |
| 2nd High | 0.83959 |
| Next High | 0.83728 |
| Current Price | 0.83490 |
| Next Low | 0.83229 |
| 2nd Low | 0.83093 |
| 3rd Low | 0.83061 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows