EUR/GBP – 1H – SELLThe currency pair Euro/British Pound (EUR/GBP) jumps from the bearish trendline down.
A continuation of the bearish trend down to the next support line at 0.83224 is certain.
Caution: A possible change in the direction of the resistance level at 0.84182 could happen.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three Black Crows’ candlestick pattern is found. The candles form ‘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’ heading down is 82%.
In addition a ‘Double top chart pattern’ chart pattern is discovered. The chart picture shows ‘Double top chart pattern’. this is a bearish pattern 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 | 0.83952 |
| 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