EUR/GBP – 4H – SELLThe currency pair Euro/British Pound (EUR/GBP) goes from the descending trendline downwards
A continuation of the downward movement down to the next support line at 0.86437 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.86907 should always be considered.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Current target is 0.86437 at the Fibonacci level 1-Level. Caution: A possible reversal of the trend in the direction of the support line at 0.86907 should always be considered.
Consider stop-loss settings accordingly.
In addition a ‘Three Black Crows’ candle chart pattern is found. The chart shows ‘Three Black Crows’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.87964 |
| 2nd High | 0.87455 |
| Next High | 0.86907 |
| Current Price | 0.86679 |
| Next Low | 0.86437 |
| 2nd Low | 0.86321 |
| 3rd Low | 0.86093 |
0.86907 – 0.87455 – 0.87395 – 0.86437 – 0.86941 – 0.87348 —
0.86768 – 0.86922 —
46.84300188043 – 52.566552898895 —
– —
0.86907 – 1767873600
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows – – – – – – – – –