EUR/GBP – 1H – SELLThe combination Euro/British Pound (EUR/GBP) goes from the bearish trendline down.
A continuation of the downward movement down to the next support line at 0.86384 is considered certain.
Caution: A possible counter-trend in the direction of the resistance line at 0.86553 is within the realm of possibility.
Consider stop-loss settings accordingly.
In addition a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is found. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. which is often a bearish chart signal. The currency pair could go down.
In addition a ‘Resistance Level’ indicator signal is found. The indicator shows ‘Resistance Level’. this is usually a bearish signal. The currency pair is likely to fall.
In addition a ‘Three Outside Down’ candlestick pattern is existing. The candles form ‘Three Outside Down’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.86938 |
| 2nd High | 0.86835 |
| Next High | 0.86553 |
| Current Price | 0.86476 |
| Next Low | 0.86384 |
| 2nd Low | 0.86093 |
| 3rd Low | 0.86081 |
0.86553 – 0.86835 – 0.86804 – 0.86384 – 0.864 – 0.86645 — 50.741701611304 – 46.899472805752 — 46.499659449731 – 33.078763356298 – 59.457894550456 – 47.906232012543
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Down – – –