EUR/GBP – 1H – SELLThe currency pair Euro/British Pound (EUR/GBP) moves from the bearish trendline down.
A continuation of the downtrend down to the next support level at 0.82675 will continue.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.83314 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Three Black Crows’ candlestick chart pattern is found. The chart shows ‘Three Black Crows’. which is a negative chart scenario. The currency 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 | 0.83552 |
| 2nd High | 0.83386 |
| Next High | 0.83314 |
| Current Price | 0.82975 |
| Next Low | 0.82675 |
| 2nd Low | 0.82596 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows