EUR/GBP – 4H – BUYThe currency pair Euro/British Pound (EUR/GBP) jumps from the bearish trendline down.
A continuation of the bearish trend downwards to the next support level at 0.82243 is certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.83272 could happen.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Matching Low’ chart pattern is existing. The chart forms ‘Matching Low’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83752 |
| 2nd High | 0.83642 |
| Next High | 0.83272 |
| Current Price | 0.82640 |
| Next Low | 0.82243 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Matching Low