EUR/GBP – 1H – SELL

The combination Euro/British Pound (EUR/GBP) jumps from the ascending trendline down.

A bearish trend down to the next support at 0.82773 is considered certain.

Caution: A possible counter-trend in the direction of the resistance line at 0.83119 could occur.
Consider stop-loss settings accordingly.

Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Current target is 0.826805 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 0.83119 could occur.
Consider stop-loss settings accordingly.

Then a ‘Three Outside Down’ candle chart pattern is found. The candles show ‘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 likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

Download EUR/GBP Signal Image

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