The combination Euro/British Pound (EUR/GBP) jumps from the ascending trendline downwards
A bearish movement down to the next support line at 0.8485 is considered certain.
Caution: A possible counter-trend in the direction of resistance at 0.85339 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three Black Crows’ candlestick chart pattern is discovered. The candles form ‘Three Black Crows’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.85548 |
| 2nd High | 0.85442 |
| Next High | 0.85339 |
| Current Price | 0.85048 |
| Next Low | 0.8485 |
| 2nd Low | 0.8473 |
| 3rd Low | 0.84685 |
0.84927 – 0.84922 – 0.84792 – 0.8485 – 0.8473 – 0.84685 —
0.84995 – 0.85118 —
65.063953778567 – 78.424891531516 —
– —
0.84927 – 1784232000
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows – – – – – – – – –