EUR/GBP – 1H – SELL

The pair Euro/British Pound (EUR/GBP) moves from the ascending trendline down.

A bearish trend down to the next support line at 0.82773 will continue.

Caution: A possible trend reversal in the direction of the resistance zone at 0.83119 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

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 trend reversal in the direction of the support level at 0.83119 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Three Outside Down’ candlestick chart pattern is discovered. The chart forms ‘Three Outside Down’. which is a bearish pattern signal. The pair is likely to go down. 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