EUR/GBP – 1H – SELL

The combination Euro/British Pound (EUR/GBP) jumps from the bullish trendline down.

The bearish trend downwards to the next support at 0.82773 will continue.

Caution: A possible counter-trend in the direction of resistance at 0.83119 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

Correction of the major bullish trend broke 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 counter-trend in the direction of the support zone at 0.83119 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘Three Outside Down’ candlestick chart pattern is discovered. The chart forms ‘Three Outside Down’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘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