EUR/GBP – 1H – SELLThe pair Euro/British Pound (EUR/GBP) goes from the descending trendline down.
A continuation of the downtrend downwards to the next support level at 0.82625 is certain.
Caution: A possible change in the direction of the resistance line at 0.83027 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Three Black Crows’ chart pattern is existing. The chart forms ‘Three Black Crows’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83281 |
| 2nd High | 0.83249 |
| Next High | 0.83027 |
| Current Price | 0.82876 |
| Next Low | 0.82625 |
| 2nd Low | 0.82220 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows