EUR/GBP – 4H – SELLThe currency pair Euro/British Pound (EUR/GBP) jumps from the bullish trendline downwards
A bearish movement down to the next support at 0.82746 is expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.83272 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Outside Down’ candle pattern is found. The candles form ‘Three Outside Down’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83752 |
| 2nd High | 0.83642 |
| Next High | 0.83272 |
| Current Price | 0.82909 |
| Next Low | 0.82746 |
| 2nd Low | 0.82220 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Down