EUR/GBP – 30M – BUYThe pair Euro/British Pound (EUR/GBP) breaks through the descending trendline upwards
An ascent up to the next resistance level at 0.83249 will persist.
Caution: A possible reversal of the trend in the direction of the support zone at 0.82850 is within the realm of possibility.
Consider stop-loss settings accordingly.
In addition a ‘Bullish Belt Hold’ candlestick pattern is detected. The candles show ‘Bullish Belt Hold’. this is a bullish signal. The currency pair is likely to rise. 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 | 0.83249 |
| Current Price | 0.83090 |
| Next Low | 0.82850 |
| 2nd Low | 0.82742 |
| 3rd Low | 0.82636 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bullish Belt Hold