EUR/GBP – 30M – SELLThe combination Euro/British Pound (EUR/GBP) moves from the ascending trendline downwards
A bearish trend down to the next support at 0.82855 will continue.
Caution: A possible change in the direction of the resistance level at 0.82988 could be enabled.
Consider stop-loss settings accordingly.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Current target is 0.82852396 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of support at 0.82988 could be enabled.
Consider stop-loss settings accordingly.
Besides a ‘Three Black Crows’ candle pattern is discovered. The candles form ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83314 |
| 2nd High | 0.83281 |
| Next High | 0.82988 |
| Current Price | 0.82936 |
| Next Low | 0.82855 |
| 2nd Low | 0.82793 |
| 3rd Low | 0.82720 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows