EUR/GBP – 30M – SELL

The currency pair Euro/British Pound (EUR/GBP) moves from the bearish trendline downwards

A continuation of the bearish trend down to the next support level at 0.87797 is likely expected.

Caution: A possible trend reversal in the direction of resistance at 0.88307 is within the realm of possibility.
Consider stop-loss settings accordingly.

Moreover a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bearish signal. The currency pair is likely to fall.

Moreover a ‘Support Level’ indicator layout is detected. The indicator is ‘Support Level’. this is usually a bearish signal. The pair is likely to go down.

Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 0.87925186 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the support level at 0.88307 is within the realm of possibility.
Consider stop-loss settings accordingly.

Moreover a ‘Three Outside Down’ candle chart pattern is found. The candles show ‘Three Outside Down’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

0.88307 – 0.88251 – 0.88396 – 0.87797 – 0.88128 – 0.87951 —
0.88033 – 0.88194 —
67.992033981313 – 82.947699702718 —
– —
0.88307 – 1763715600

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Down – Double bottom retreat down – – – – – – – –