EUR/GBP – 1H – SELLThe combination Euro/British Pound (EUR/GBP) moves from the bearish trendline down.
A continuation of the downtrend downwards to the next support level at 0.83224 is likely expected.
Caution: A possible change in the direction of the resistance zone at 0.84182 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Black Crows’ candlestick chart pattern is existing. The chart forms ‘Three Black Crows’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ going down is 82%.
Furthermore a ‘Double top chart pattern’ chart layout is detected. The chart picture forms ‘Double top chart pattern’. which is a bearish pattern signal. The pair is likely to go down.
Furthermore a ‘Support Level’ indicator layout is found. The indicator is ‘Support Level’. which is often a bearish signal. The pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.84588 |
| 2nd High | 0.84489 |
| Next High | 0.84182 |
| Current Price | 0.83979 |
| Next Low | 0.83224 |
| 2nd Low | 0.83151 |
| 3rd Low | 0.82473 |
0.84182 – 0.84489 – 0.84588 – 0.83970 – 0.84048 – 0.83933
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows