EUR/GBP – 30M – SELLThe currency pair Euro/British Pound (EUR/GBP) moves from the bullish trendline down.
A bearish trend down to the next support at 0.83093 is expected.
Caution: A possible trend reversal in the direction of resistance at 0.83581 could happen.
Consider stop-loss settings accordingly.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is expected. Current target is 0.83266 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of support at 0.83581 could happen.
Consider stop-loss settings accordingly.
Also there is a ‘Three Black Crows’ chart pattern is found. The candles form ‘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 likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83959 |
| 2nd High | 0.83752 |
| Next High | 0.83581 |
| Current Price | 0.83149 |
| Next Low | 0.83093 |
| 2nd Low | 0.83061 |
| 3rd Low | 0.83048 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows