EUR/GBP – 30M – SELL

The currency pair Euro/British Pound (EUR/GBP) jumps from the bullish trendline down.

A bearish descent down to the next support at 0.87907 is expected.

Caution: A possible change in the direction of the resistance level at 0.88012 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

Besides a ‘%K crosses below %D’ indicator signal is found. The indicator is ‘%K crosses below %D’. which is often a bearish chart scenario. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Current target is 0.879045 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support level at 0.88012 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

Besides a ‘Three Black Crows’ candle chart pattern is found. The chart forms ‘Three Black Crows’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going down is 82%.

0.88012 – 0.88012 – 0.87893 – 0.87907 – 0.87852 – 0.87831 —
0.87980 – 0.87978 —
56.01477592296 – 54.763761856155 —
– —
0.88012 – 1764700200

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows – – – – – – – – –