EUR/GBP – 30M – SELLThe currency pair Euro/British Pound (EUR/GBP) jumps from the descending trendline downwards
A continuation of the downtrend downwards to the next support level at 0.82695 is certain.
Caution: A possible trend reversal in the direction of the resistance line at 0.83007 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Three Black Crows’ candlestick chart pattern is existing. The chart shows ‘Three Black Crows’. 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 Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83386 |
| 2nd High | 0.83314 |
| Next High | 0.83007 |
| Current Price | 0.82916 |
| Next Low | 0.82695 |
| 2nd Low | 0.82671 |
| 3rd Low | 0.82649 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows