EUR/GBP – 1H – BUYCorrection of the major bearish trend broke the Fibonacci 0-Level.Continuation of the current ascending trend will continue. Target of the current trend is 0.825271 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of resistance at 0.82777 could be enabled.
Consider stop-loss settings accordingly.
Moreover a ‘Three Outside Up’ candlestick pattern is discovered. The chart shows ‘Three Outside Up’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83314 |
| 2nd High | 0.83272 |
| Next High | 0.82777 |
| Current Price | 0.82342 |
| Next Low | 0.82297 |
| 2nd Low | 0.82243 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Up