EUR/GBP – 1H – SELL

The combination Euro/British Pound (EUR/GBP) moves from the descending trendline down.

A continuation of the downward movement downwards to the next support line at 0.84898 is certain.

Caution: A possible change in the direction of the resistance line at 0.85404 could be enabled.
Consider stop-loss settings accordingly.

Also there is a ‘Three Outside Down’ chart pattern is detected. The chart forms ‘Three Outside Down’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

Also there is a ‘Double top chart pattern’ chart pattern is detected. The formation shows ‘Double top chart pattern’. which is a negative chart scenario. The currency pair is likely to go down.

Also there is a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. which could be a negative chart scenario. The currency pair is likely to fall.

0.85404 – 0.85102 – 0.85380 – 0.84898 – 0.84795 – 0.84950

Download EUR/GBP Signal Image

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