EUR/GBP – 30M – BUYThe pair Euro/British Pound (EUR/GBP) breaks through the descending trendline up.
The bullish trend up to the next resistance at 0.82979 is likely expected.
Caution: A possible change in the direction of the support line at 0.82746 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Bearish SBS White Lines’ chart pattern is found. The candles form ‘Bearish SBS White Lines’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83141 |
| 2nd High | 0.83119 |
| Next High | 0.82979 |
| Current Price | 0.82933 |
| Next Low | 0.82746 |
| 2nd Low | 0.82705 |
| 3rd Low | 0.82220 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish SBS White Lines