EUR/GBP – 30M – BUYCorrection of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend is certain. Current target is 0.829955 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 0.83003 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Bearish SBS White Lines’ candle chart pattern is found. The chart forms ‘Bearish SBS White Lines’. which is a negative chart scenario. 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’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83249 |
| 2nd High | 0.83027 |
| Next High | 0.83003 |
| Current Price | 0.82881 |
| Next Low | 0.82742 |
| 2nd Low | 0.82636 |
| 3rd Low | 0.82625 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish SBS White Lines