EUR/GBP – 1H – SELLThe combination Euro/British Pound (EUR/GBP) moves from the descending trendline downwards
A continuation of the downtrend downwards to the next support level at 0.83088 is likely expected.
Caution: A possible change in the direction of resistance at 0.83552 should be noted.
Consider stop-loss settings accordingly.
Also there is a ‘Three Black Crows’ chart pattern is discovered. The chart forms ‘Three Black Crows’. this is a bearish chart scenario. The currency pair is likely to fall. 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 | 0.83752 |
| 2nd High | 0.83642 |
| Next High | 0.83552 |
| Current Price | 0.83169 |
| Next Low | 0.83088 |
| 2nd Low | 0.82675 |
| 3rd Low | 0.82596 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows