EUR/GBP – 30M – SELLThe combination Euro/British Pound (EUR/GBP) moves from the descending trendline down.
A continuation of the bearish trend down to the next support at 0.83134 will continue.
Caution: A possible trend reversal in the direction of the resistance level at 0.83375 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three Black Crows’ chart pattern is detected. The candles form ‘Three Black Crows’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83581 |
| 2nd High | 0.83407 |
| Next High | 0.83375 |
| Current Price | 0.83132 |
| Next Low | 0.83134 |
| 2nd Low | 0.83128 |
| 3rd Low | 0.83093 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows