EUR/GBP – 30M – BUYThe pair Euro/British Pound (EUR/GBP) moves from the descending trendline downwards
A continuation of the downward movement down to the next support line at 0.82675 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.83314 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 0.83044 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support line at 0.83314 could happen.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Matching Low’ candle chart pattern is found. The chart forms ‘Matching Low’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83512 |
| 2nd High | 0.83386 |
| Next High | 0.83314 |
| Current Price | 0.82990 |
| Next Low | 0.82675 |
| 2nd Low | 0.82649 |
| 3rd Low | 0.82596 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Matching Low