EUR/GBP – 30M – SELLThe currency pair Euro/British Pound (EUR/GBP) jumps from the bearish trendline downwards
A continuation of the downward movement downwards to the next support level at 0.86272 is considered certain.
Caution: A possible counter-trend in the direction of the resistance level at 0.86490 could happen.
Consider stop-loss settings accordingly.
Moreover a ‘Three Outside Down’ candle chart pattern is existing. The chart forms ‘Three Outside Down’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.86716 |
| 2nd High | 0.86707 |
| Next High | 0.86490 |
| Current Price | 0.86358 |
| Next Low | 0.86272 |
| 2nd Low | 0.86227 |
| 3rd Low | 0.86081 |
0.86490 – 0.86455 – 0.86707 – 0.86272 – 0.86227 – 0.86231 — 46.689743038819 – 45.696391169762 — 87.997074130189 – 73.236488981903 – 82.26930240619 – 84.983657923201
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Down – Rising Wedge Chart Pattern – –