EUR/GBP – 30M – SELLThe combination Euro/British Pound (EUR/GBP) jumps from the descending trendline downwards
A continuation of the bearish trend down to the next support line at 0.83128 is certain.
Caution: A possible counter-trend in the direction of the resistance level at 0.83398 is also possible.
Consider stop-loss settings accordingly.
Next a ‘Three Black Crows’ candlestick chart pattern is discovered. The chart forms ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83752 |
| 2nd High | 0.83581 |
| Next High | 0.83398 |
| Current Price | 0.83296 |
| Next Low | 0.83128 |
| 2nd Low | 0.83093 |
| 3rd Low | 0.83061 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows