EUR/GBP – 30M – SELLThe currency pair Euro/British Pound (EUR/GBP) goes from the ascending trendline downwards
The bearish trend down to the next support level at 0.82898 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.83173 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three Outside Down’ chart pattern is found. The candles show ‘Three Outside Down’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83281 |
| 2nd High | 0.83249 |
| Next High | 0.83173 |
| Current Price | 0.82932 |
| Next Low | 0.82898 |
| 2nd Low | 0.82850 |
| 3rd Low | 0.82742 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Down