EUR/GBP – 1H – SELL

The pair Euro/British Pound (EUR/GBP) goes from the bullish trendline down.

A bearish movement down to the next support at 0.82773 is likely expected.

Caution: A possible change in the direction of the resistance line at 0.83119 could happen.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 0.826805 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support line at 0.83119 could happen.
In the case of a trade, always set appropriate stop-loss settings.

In addition a ‘Three Outside Down’ chart pattern is existing. The chart shows ‘Three Outside Down’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability 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