EUR/GBP – 30M – SELL

The currency pair Euro/British Pound (EUR/GBP) goes from the bearish trendline down.

A continuation of the bearish trend downwards to the next support at 0.82845 is expected.

Caution: A possible reversal of the trend in the direction of the resistance line at 0.82943 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 0.82767182 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of support at 0.82943 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Also there is a ‘Three Inside Down’ candlestick chart pattern is existing. The chart shows ‘Three Inside Down’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Inside Down’ heading down is 60% (Bull Market) & 63% (Bear Market).

Download EUR/GBP Signal Image

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