EUR/GBP – 1H – SELLCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Current target is 0.82852396 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support line at 0.82988 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bearish Harami’ candlestick pattern is found. The chart forms ‘Bearish Harami’. which is a bearish 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 ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83314 |
| 2nd High | 0.83281 |
| Next High | 0.82988 |
| Current Price | 0.82980 |
| Next Low | 0.82720 |
| 2nd Low | 0.82705 |
| 3rd Low | 0.82220 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish Harami