EUR/GBP – 1H – SELL

The pair Euro/British Pound (EUR/GBP) goes from the ascending trendline downwards

A descending movement downwards to the next support line at 0.84644 is likely expected.

Caution: A possible change in the direction of the resistance zone at 0.85460 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 0.84799 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of support at 0.85460 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

And also a ‘Three Outside Down’ candle chart pattern is existing. The candles show ‘Three Outside Down’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

0.85460 – 0.84883 – 0.84681 – 0.85028 – 0.84644 – 0.84138

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