EUR/GBP – 4H – SELLThe combination Euro/British Pound (EUR/GBP) goes from the descending trendline downwards
A continuation of the downtrend downwards to the next support at 0.82243 is likely expected.
Caution: A possible trend reversal in the direction of the resistance zone at 0.83123 is within the realm of possibility.
Consider stop-loss settings accordingly.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 0.82599124 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support line at 0.83123 is within the realm of possibility.
Consider stop-loss settings accordingly.
And also a ‘Three Black Crows’ candlestick pattern is existing. The candles show ‘Three Black Crows’. which is a bearish pattern signal. 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 | 0.83752 |
| 2nd High | 0.83642 |
| Next High | 0.83123 |
| Current Price | 0.82843 |
| Next Low | 0.82243 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows