EUR/GBP – 30M – BUYThe currency pair Euro/British Pound (EUR/GBP) breaks through the descending trendline upwards
An ascent upwards to the next resistance at 0.82943 is certain.
Caution: A possible reversal of the trend in the direction of the support level at 0.82845 could occur.
Consider stop-loss settings accordingly.
Also there is a ‘Three Outside Up’ candle chart pattern is detected. The chart forms ‘Three Outside Up’. 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 probability of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83281 |
| 2nd High | 0.83249 |
| Next High | 0.82943 |
| Current Price | 0.82946 |
| Next Low | 0.82845 |
| 2nd Low | 0.82795 |
| 3rd Low | 0.82753 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Up