EUR/GBP – 4H – SELLThe pair Euro/British Pound (EUR/GBP) moves from the descending trendline downwards
A continuation of the bearish trend downwards to the next support at 0.82243 is certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.83272 is also possible.
Consider stop-loss settings accordingly.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 0.82243 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support line at 0.83272 is also possible.
Consider stop-loss settings accordingly.
Next a ‘Three Black Crows’ chart pattern is detected. The chart forms ‘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 | 0.83752 |
| 2nd High | 0.83642 |
| Next High | 0.83272 |
| Current Price | 0.82410 |
| Next Low | 0.82243 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows