EUR/GBP – 30M – SELLThe pair Euro/British Pound (EUR/GBP) moves from the bearish trendline down.
A continuation of the downward movement downwards to the next support level at 0.83448 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 0.83581 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Black Crows’ candle pattern is found. The chart forms ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83959 |
| 2nd High | 0.83752 |
| Next High | 0.83581 |
| Current Price | 0.83297 |
| Next Low | 0.83448 |
| 2nd Low | 0.83316 |
| 3rd Low | 0.83229 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows