EUR/GBP – 4H – BUYThe pair Euro/British Pound (EUR/GBP) breaks through the descending trendline up.
A bullish movement upwards to the next resistance line at 0.83272 is likely expected.
Caution: A possible counter-trend in the direction of the support level at 0.82243 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three White Soldiers’ candle chart pattern is found. The candles show ‘Three White Soldiers’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83752 |
| 2nd High | 0.83642 |
| Next High | 0.83272 |
| Current Price | 0.82983 |
| Next Low | 0.82243 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three White Soldiers