EUR/GBP – 30M – BUYThe pair Euro/British Pound (EUR/GBP) moves from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support level at 0.82675 will continue.
Caution: A possible counter-trend in the direction of the resistance level at 0.83314 could be enabled.
Consider stop-loss settings accordingly.
Besides a ‘Matching Low’ candle chart pattern is detected. The chart forms ‘Matching Low’. 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 likelyhood 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 | 0.82974 |
| Next Low | 0.82675 |
| 2nd Low | 0.82649 |
| 3rd Low | 0.82596 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Matching Low