EUR/GBP – 4H – SELLThe combination Euro/British Pound (EUR/GBP) goes from the bullish trendline down.
A bearish trend downwards to the next support at 0.82243 is certain.
Caution: A possible counter-trend in the direction of the resistance line at 0.83272 could be enabled.
Consider stop-loss settings accordingly.
And also a ‘Three Outside Down’ candlestick chart pattern is found. The candles form ‘Three Outside Down’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83752 |
| 2nd High | 0.83642 |
| Next High | 0.83272 |
| Current Price | 0.82475 |
| Next Low | 0.82243 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Down