EUR/GBP – 1H – SELLThe combination Euro/British Pound (EUR/GBP) jumps from the ascending trendline downwards
A bearish descent down to the next support at 0.82625 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 0.83072 could happen.
Consider stop-loss settings accordingly.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will persist. Target of the current trend is 0.82953 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support line at 0.83072 could happen.
Consider stop-loss settings accordingly.
Also there is a ‘Three Black Crows’ candlestick chart pattern is discovered. The chart shows ‘Three Black Crows’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83314 |
| 2nd High | 0.83281 |
| Next High | 0.83072 |
| Current Price | 0.82920 |
| Next Low | 0.82625 |
| 2nd Low | 0.82220 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows