EUR/GBP – 1H – SELL

The combination Euro/British Pound (EUR/GBP) goes from the ascending trendline downwards

The bearish trend downwards to the next support at 0.82773 is likely expected.

Caution: A possible reversal of the trend in the direction of the resistance zone at 0.83119 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Current target is 0.826805 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of support at 0.83119 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Three Outside Down’ candlestick pattern is detected. The chart forms ‘Three Outside Down’. which is a bearish chart scenario. 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 Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

Download EUR/GBP Signal Image

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Down