EUR/GBP – 1H – SELLThe combination Euro/British Pound (EUR/GBP) jumps from the ascending trendline down.
A descent downwards to the next support level at 0.83093 is certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.83232 could happen.
Consider stop-loss settings accordingly.
Additionally a ‘Three Black Crows’ chart pattern is existing. The chart shows ‘Three Black Crows’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83959 |
| 2nd High | 0.83451 |
| Next High | 0.83232 |
| Current Price | 0.83429 |
| Next Low | 0.83093 |
| 2nd Low | 0.83061 |
| 3rd Low | 0.83048 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows