EUR/GBP – 1H – SELL

The pair Euro/British Pound (EUR/GBP) goes from the descending trendline downwards

A continuation of the downward movement down to the next support at 0.86852 is expected.

Caution: A possible change in the direction of resistance at 0.87112 could happen.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘StochRSI %K line crosses below %D line’ indicator layout is discovered. The indicator is ‘StochRSI %K line crosses below %D line’. this is usually a bearish chart signal. The currency pair could go down.

Next a ‘Support Level’ indicator signal is existing. The indicator shows ‘Support Level’. which is often a bearish signal. The currency pair could go down.

Correction of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Target of the current trend is 0.86852 at the Fibonacci level 1-Level. Caution: A possible change in the direction of support at 0.87112 could happen.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘Three Outside Down’ candle pattern is found. The candles show ‘Three Outside Down’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

0.87112 – 0.87118 – 0.87121 – 0.86932 – 0.86852 – 0.86863 —
0.87081 – 0.86980 —
49.395145656623 – 47.276483586955 —
– —
0.87112 – 1772697600

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Down – – – – – – – – –