EUR/GBP – 1H – SELL

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

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

Caution: A possible reversal of the 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 is expected. Current target is 0.826805 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support line at 0.83119 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

In addition a ‘Three Outside Down’ candlestick chart pattern is existing. The candles form ‘Three Outside Down’. this 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’ heading down is 69% (Bull Market) & 70% (Bear Market).

Download EUR/GBP Signal Image

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