EUR/GBP – 4H – SELL

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

A bearish descent down to the next support level at 0.86824 is considered certain.

Caution: A possible counter-trend in the direction of resistance at 0.87412 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘StochRSI %K line crosses below %D line’ indicator signal is detected. The indicator is ‘StochRSI %K line crosses below %D line’. which is often a bearish chart scenario. The pair is likely to go down.

Additionally a ‘Resistance Level’ indicator signal is found. The indicator is ‘Resistance Level’. this is usually a bearish signal. The currency pair could go down.

Correction of the major bearish trend halted around the Fibonacci 1-Level.Continuation of the current descending trend is considered certain. Current target is 0.87135084 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the support zone at 0.87412 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Southern Doji’ candlestick pattern is detected. The chart forms ‘Southern Doji’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Southern Doji’ heading up is 51% (Bull Market) & 52% (Bear Market).

0.8721 – 0.87412 – 0.87206 – 0.86824 – 0.86118 – 0.86485 —
0.86955 – 0.87487 —
45.313746547443 – 70.019779805821 —
– —
0.8721 – 1770969600

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Southern Doji – Double bottom retreat down – – – – – – – –