EUR/GBP – 1H – SELLThe combination Euro/British Pound (EUR/GBP) moves from the descending trendline downwards
A continuation of the downward movement downwards to the next support at 0.82663 is certain.
Caution: A possible trend reversal in the direction of resistance at 0.83002 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 0.82663 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support line at 0.83002 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Three Black Crows’ chart pattern is discovered. The chart shows ‘Three Black Crows’. which is a negative chart scenario. The 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’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83014 |
| 2nd High | 0.83005 |
| Next High | 0.83002 |
| Current Price | 0.82747 |
| Next Low | 0.82663 |
| 2nd Low | 0.82596 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows