EUR/GBP – 1H – BUYThe combination Euro/British Pound (EUR/GBP) moves from the bearish trendline down.
A continuation of the bearish trend downwards to the next support level at 0.82671 is considered certain.
Caution: A possible change in the direction of the resistance level at 0.83314 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Matching Low’ candlestick pattern is detected. The candles form ‘Matching Low’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83552 |
| 2nd High | 0.83386 |
| Next High | 0.83314 |
| Current Price | 0.83054 |
| Next Low | 0.82671 |
| 2nd Low | 0.82596 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Matching Low