EUR/GBP – 30M – SELLThe combination Euro/British Pound (EUR/GBP) goes from the bearish trendline down.
A continuation of the downtrend downwards to the next support at 0.83044 is likely expected.
Caution: A possible change in the direction of the resistance line at 0.83314 is also possible.
Consider stop-loss settings accordingly.
In addition a ‘Three Black Crows’ candle pattern is discovered. The chart forms ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83512 |
| 2nd High | 0.83386 |
| Next High | 0.83314 |
| Current Price | 0.83045 |
| Next Low | 0.83044 |
| 2nd Low | 0.83041 |
| 3rd Low | 0.82675 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows