EUR/GBP – 4H – SELLThe combination Euro/British Pound (EUR/GBP) goes from the bearish trendline downwards
A continuation of the downtrend downwards to the next support line at 0.82625 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 0.83752 could be enabled.
Consider stop-loss settings accordingly.
Additionally a ‘Two Crows’ candle pattern is existing. The chart forms ‘Two Crows’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.83752 |
| Current Price | 0.83706 |
| Next Low | 0.82625 |
| 2nd Low | 0.82220 |
| 3rd Low |