EUR/GBP – 4H – BUYThe currency pair Euro/British Pound (EUR/GBP) moves from the descending trendline downwards
A continuation of the downtrend down to the next support line at 0.82832 is likely expected.
Caution: A possible trend reversal in the direction of the resistance line at is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Bullish Belt Hold’ candle chart pattern is found. The chart shows ‘Bullish Belt Hold’. this is a bullish pattern 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 | |
| 2nd High | |
| Next High | |
| Current Price | 0.83907 |
| Next Low | 0.82832 |
| 2nd Low | 0.82625 |
| 3rd Low | 0.82220 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bullish Belt Hold