EUR/GBP – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is likely expected. Current target is 0.83071284 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of resistance at 0.83173 is within the realm of possibility.
Consider stop-loss settings accordingly.
In addition a ‘Bullish Belt Hold’ candlestick pattern is existing. The candles show ‘Bullish Belt Hold’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83281 |
| 2nd High | 0.83249 |
| Next High | 0.83173 |
| Current Price | 0.82999 |
| Next Low | 0.82850 |
| 2nd Low | 0.82742 |
| 3rd Low | 0.82636 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bullish Belt Hold