EUR/GBP – 30M – SELL

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

A bearish descent down to the next support level at 0.85391 will persist.

Caution: A possible change in the direction of the resistance zone at 0.85662 should always be considered.
Consider stop-loss settings accordingly.

Besides a ‘Three Outside Down’ candle chart pattern is detected. The chart shows ‘Three Outside Down’. which is a bearish signal. The currency pair is likely to fall. 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).

0.85545 – 0.85391 – 0.85367 – 0.85391 – 0.85384 – 0.85078

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Down – Double top retreat up