EUR/GBP – 1H – SELLThe combination Euro/British Pound (EUR/GBP) goes from the bullish trendline down.
A descending movement downwards to the next support level at 0.83316 is considered certain.
Caution: A possible counter-trend in the direction of the resistance level at 0.83752 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three Line Strike – Bearish’ candle chart pattern is discovered. The candles show ‘Three Line Strike – Bearish’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Line Strike – Bearish’ heading down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.84184 |
| 2nd High | 0.83959 |
| Next High | 0.83752 |
| Current Price | 0.83289 |
| Next Low | 0.83316 |
| 2nd Low | 0.83229 |
| 3rd Low | 0.83093 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Line Strike – Bearish