EUR/GBP – 4H – BUY

The pair Euro/British Pound (EUR/GBP) jumps from the ascending trendline down.

A bearish descent down to the next support line at 0.82243 is expected.

Caution: A possible counter-trend in the direction of the resistance zone at 0.83272 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Current target is 0.82243 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support zone at 0.83272 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Three Outside Down’ chart pattern is discovered. The chart shows ‘Three Outside Down’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

Download EUR/GBP Signal Image

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Down