EUR/GBP – 30M – SELL

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

A continuation of the bearish trend downwards to the next support at 0.86844 is considered certain.

Caution: A possible trend reversal in the direction of the resistance zone at 0.87007 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend is considered certain. Current target is 0.86844 at the Fibonacci level 1-Level. Caution: A possible trend reversal in the direction of the support zone at 0.87007 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Also there is a ‘Three Outside Down’ chart pattern is discovered. The chart forms ‘Three Outside Down’. this 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 chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

0.87007 – 0.8698 – 0.87112 – 0.86844 – 0.86855 – 0.86932 —
0.86910 – 0.86906 —
47.224539285674 – 48.090785024927 —
– —
0.87007 – 1772755200

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Down – – – – – – – – –