EUR/GBP – 1H – SELL

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

The bearish trend down to the next support at 0.82773 is considered certain.

Caution: A possible reversal of the trend in the direction of the resistance level at 0.83119 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 0.826805 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support level at 0.83119 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Then a ‘Three Outside Down’ candlestick chart pattern is detected. The chart forms ‘Three Outside Down’. which is a negative 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’ heading down is 69% (Bull Market) & 70% (Bear Market).

Download EUR/GBP Signal Image

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