EUR/GBP – 1H – SELLThe pair Euro/British Pound (EUR/GBP) moves from the bearish trendline downwards
A continuation of the downtrend down to the next support level at 0.86093 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.86490 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Support Level’ indicator layout is found. The indicator shows ‘Support Level’. this is usually a bearish chart scenario. The currency pair could go down.
Besides a ‘Two Crows’ candlestick chart pattern is existing. The candles form ‘Two Crows’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.86716 |
| 2nd High | 0.86707 |
| Next High | 0.86490 |
| Current Price | 0.86365 |
| Next Low | 0.86093 |
| 2nd Low | 0.86081 |
| 3rd Low | 0.85960 |
0.86490 – 0.86707 – 0.86716 – 0.86093 – 0.86227 – 0.86231 — 58.415681438729 – 50.346265984792 — 25.389917039468 – 11.740331491713 – 44.910138260695 – 27.985119347715
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Two Crows – Double top chart pattern – –