EUR/GBP – 1H – SELL

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

A descending movement downwards to the next support line at 0.82773 will persist.

Caution: A possible counter-trend in the direction of the resistance zone at 0.83119 should always be considered.
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 persist. Target of the current trend 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.
In case of a trade, appropriate stop-loss settings should be considered.

Also there is a ‘Three Outside Down’ candlestick pattern is existing. The candles form ‘Three Outside Down’. which is a bearish chart scenario. The currency 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’ heading down is 69% (Bull Market) & 70% (Bear Market).

Download EUR/GBP Signal Image

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