EUR/GBP – 1H – SELLCorrection of the major bullish trend broke the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Current target is 0.82243 at the Fibonacci level 1-Level. Caution: A possible counter-trend in the direction of the support level at 0.82777 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three Black Crows’ candle pattern is existing. The candles show ‘Three Black Crows’. this is a bearish signal. 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’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83314 |
| 2nd High | 0.83272 |
| Next High | 0.82777 |
| Current Price | 0.82415 |
| Next Low | 0.82243 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows