EUR/GBP – 30M – BUYThe pair Euro/British Pound (EUR/GBP) goes from the descending trendline down.
A continuation of the bearish trend downwards to the next support at 0.82492 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.82777 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Matching Low’ candlestick pattern is existing. The candles show ‘Matching Low’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.82952 |
| 2nd High | 0.82821 |
| Next High | 0.82777 |
| Current Price | 0.82512 |
| Next Low | 0.82492 |
| 2nd Low | 0.82304 |
| 3rd Low | 0.82243 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Matching Low