EUR/GBP – 4H – BUYThe currency pair Euro/British Pound (EUR/GBP) breaks through the bearish trendline up.
A bullish trend up to the next resistance line at 0.83272 is certain.
Caution: A possible reversal of the trend in the direction of support at 0.82220 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Inverted Hammer’ candlestick chart pattern is discovered. The candles show ‘Inverted Hammer’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Inverted Hammer’ heading up is 65% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83752 |
| 2nd High | 0.83642 |
| Next High | 0.83272 |
| Current Price | 0.82967 |
| Next Low | 0.82220 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Inverted Hammer