EUR/GBP – 1H – BUYThe combination Euro/British Pound (EUR/GBP) breaks through the descending trendline up.
An ascent up to the next resistance at 0.83072 is likely expected.
Caution: A possible reversal of the trend in the direction of the support level at 0.82625 should be noted.
Consider stop-loss settings accordingly.
Next a ‘Three White Soldiers’ candle chart pattern is detected. The candles form ‘Three White Soldiers’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83314 |
| 2nd High | 0.83281 |
| Next High | 0.83072 |
| Current Price | 0.82912 |
| Next Low | 0.82625 |
| 2nd Low | 0.82220 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three White Soldiers