EUR/GBP – 30M – BUYThe pair Euro/British Pound (EUR/GBP) jumps from the ascending trendline down.
A bearish movement downwards to the next support at 0.82705 is certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.83072 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Bullish Belt Hold’ candle pattern is discovered. The candles show ‘Bullish Belt Hold’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83314 |
| 2nd High | 0.83281 |
| Next High | 0.83072 |
| Current Price | 0.82720 |
| Next Low | 0.82705 |
| 2nd Low | 0.82220 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bullish Belt Hold