EUR/GBP – 1H – SELLThe pair Euro/British Pound (EUR/GBP) jumps from the descending trendline downwards
A continuation of the bearish trend downwards to the next support at 0.82685 is expected.
Caution: A possible change in the direction of the resistance level at 0.83014 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three Black Crows’ chart pattern is detected. The candles form ‘Three Black Crows’. which is a negative chart scenario. The pair is likely to go down. 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 | 0.83314 |
| 2nd High | 0.83123 |
| Next High | 0.83014 |
| Current Price | 0.82922 |
| Next Low | 0.82685 |
| 2nd Low | 0.82671 |
| 3rd Low | 0.82596 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows