EUR/GBP – 1H – SELLCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Target of the current trend is 0.82970768 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of support at 0.83256 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Three Black Crows’ candle chart pattern is discovered. The chart forms ‘Three Black Crows’. this is a bearish signal. The currency pair is likely to fall. 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 | 0.83959 |
| 2nd High | 0.83396 |
| Next High | 0.83256 |
| Current Price | 0.83213 |
| Next Low | 0.82754 |
| 2nd Low | 0.82596 |
| 3rd Low |