EUR/GBP – 4H – BUY

The currency pair Euro/British Pound (EUR/GBP) breaks through the bearish trendline upwards

A bullish trend up to the next resistance level at 0.88176 is expected.

Caution: A possible counter-trend in the direction of the support line at is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is detected. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which is often a bullish signal. The currency pair is likely to rise.

Correction of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Current target is 0.881335 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of resistance at 0.88176 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Northern Doji’ candlestick pattern is found. The chart forms ‘Northern Doji’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

0.88176 – 0.88396 – 0.8865 – 0.87797 – 0.87895 – 0.87665 —
0.87695 – 0.87874 —
48.181031370211 – 56.639443577705 —
– —
0.88176 – 1764158400

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Northern Doji – Inverse Head and Shoulder chart pattern – – – – – – – –