EUR/GBP – 30M – BUYThe pair Euro/British Pound (EUR/GBP) jumps from the ascending trendline up.
A continuation of the uptrend upwards to the next resistance line at 0.82965 will continue.
Caution: A possible change in the direction of the support level at 0.82718 should always be considered.
Consider stop-loss settings accordingly.
In addition a ‘Three Outside Up’ candle chart pattern is discovered. The candles show ‘Three Outside Up’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83123 |
| 2nd High | 0.83014 |
| Next High | 0.82965 |
| Current Price | 0.82776 |
| Next Low | 0.82718 |
| 2nd Low | 0.82691 |
| 3rd Low | 0.82685 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Up