EUR/GBP – 1H – SELL

The currency pair Euro/British Pound (EUR/GBP) goes from the descending trendline down.

A continuation of the downward movement down to the next support level at 0.82671 is expected.

Caution: A possible reversal of the trend in the direction of resistance at 0.83123 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Current target is 0.82671 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support zone at 0.83123 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Three Black Crows’ candle pattern is existing. The candles form ‘Three Black Crows’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.

Download EUR/GBP Signal Image

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows