EUR/GBP – 1H – SELL

The pair Euro/British Pound (EUR/GBP) moves from the descending trendline down.

A continuation of the downtrend downwards to the next support level at 0.86492 is likely expected.

Caution: A possible change in the direction of the resistance line at 0.86707 is also possible.
Consider stop-loss settings accordingly.

And also a ‘Support Level’ indicator signal is existing. The indicator is ‘Support Level’. which is often a bearish chart scenario. The currency pair could go down.

Correction of the major bullish trend broke the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 0.86485 at the Fibonacci level 1-Level. Caution: A possible change in the direction of the support level at 0.86707 is also possible.
Consider stop-loss settings accordingly.

And also a ‘Three Outside Down’ candlestick chart pattern is detected. The candles show ‘Three Outside Down’. which is a bearish pattern signal. The currency pair is likely to fall. 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).

0.86707 – 0.86692 – 0.87156 – 0.86492 – 0.86485 – 0.86699 —
0.86698 – 0.86691 —
43.749400941591 – 52.06190666352 —
– —
0.86707 – 1769706000

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