EUR/GBP – 30M – SELLThe currency pair Euro/British Pound (EUR/GBP) moves from the bearish trendline down.
A continuation of the bearish trend down to the next support at 0.82742 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 0.83003 is also possible.
Consider stop-loss settings accordingly.
In addition a ‘Three Black Crows’ candle pattern is detected. The candles form ‘Three Black Crows’. this is a bearish pattern signal. 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’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83249 |
| 2nd High | 0.83027 |
| Next High | 0.83003 |
| Current Price | 0.82888 |
| Next Low | 0.82742 |
| 2nd Low | 0.82636 |
| 3rd Low | 0.82625 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows