EUR/GBP – 4H – SELL

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

A continuation of the downward movement down to the next support at 0.86118 is likely expected.

Caution: A possible trend reversal in the direction of the resistance line at 0.87412 could happen.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘StochRSI %K line crosses below %D line’ indicator layout is existing. The indicator shows ‘StochRSI %K line crosses below %D line’. which is often a bearish chart signal. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 0.86765 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support zone at 0.87412 could happen.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Three Black Crows’ chart pattern is detected. The chart shows ‘Three Black Crows’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.

0.87412 – 0.87206 – 0.86748 – 0.86118 – 0.86485 – 0.86576 —
0.87234 – 0.87133 —
61.363467527344 – 55.493865035446 —
– —
0.87412 – 1770652800

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows – – – – – – – – –