EUR/GBP – 1H – BUYThe combination Euro/British Pound (EUR/GBP) moves from the ascending trendline downwards
A bearish movement down to the next support line at 0.82815 is considered certain.
Caution: A possible trend reversal in the direction of the resistance level at 0.83281 could occur.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bullish Engulfing’ chart pattern is discovered. The chart forms ‘Bullish Engulfing’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83386 |
| 2nd High | 0.83314 |
| Next High | 0.83281 |
| Current Price | 0.82927 |
| Next Low | 0.82815 |
| 2nd Low | 0.82746 |
| 3rd Low | 0.82705 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bullish Engulfing