EUR/GBP – 1H – SELLCorrection of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Current target is 0.831585 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support line at 0.83642 should always be considered.
Consider stop-loss settings accordingly.
Moreover a ‘Three Black Crows’ candlestick pattern is discovered. The chart shows ‘Three Black Crows’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83959 |
| 2nd High | 0.83752 |
| Next High | 0.83642 |
| Current Price | 0.83381 |
| Next Low | 0.83302 |
| 2nd Low | 0.83088 |
| 3rd Low | 0.82675 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows