EUR/GBP – 1H – BUYThe pair Euro/British Pound (EUR/GBP) breaks through the bearish trendline up.
An ascending movement upwards to the next resistance at 0.83123 is considered certain.
Caution: A possible counter-trend in the direction of the support line at 0.82864 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Bullish Engulfing’ candle chart pattern is existing. The candles form ‘Bullish Engulfing’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83386 |
| 2nd High | 0.83314 |
| Next High | 0.83123 |
| Current Price | 0.82934 |
| Next Low | 0.82864 |
| 2nd Low | 0.82671 |
| 3rd Low | 0.82596 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bullish Engulfing