EUR/GBP – 1H – SELL

The currency pair Euro/British Pound (EUR/GBP) goes from the bullish trendline downwards

A descent downwards to the next support line at 0.82773 will continue.

Caution: A possible change in the direction of the resistance line at 0.83119 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Current target is 0.826805 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support level at 0.83119 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Three Outside Down’ candlestick pattern is discovered. The candles form ‘Three Outside Down’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

Download EUR/GBP Signal Image

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