EUR/GBP – 1H – SELL

The pair Euro/British Pound (EUR/GBP) goes from the bullish trendline down.

A bearish descent downwards to the next support at 0.86941 is likely expected.

Caution: A possible trend reversal in the direction of resistance at 0.87451 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

Additionally a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is existing. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. this is usually a bearish chart scenario. The currency pair could go down.

Additionally a ‘Support Level’ indicator layout is discovered. The indicator is ‘Support Level’. which is often a bearish chart signal. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 0.868016 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of support at 0.87451 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

Additionally a ‘Three Outside Down’ candlestick pattern is existing. The candles show ‘Three Outside Down’. 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 likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

0.87451 – 0.87311 – 0.86856 – 0.86941 – 0.87084 – 0.8665 —
0.87039 – 0.87139 —
41.272624512087 – 52.561865129519 —
– —
0.87451 – 1769007600

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Down – Double bottom chart pattern – – – – – – – –