EUR/GBP – 30M – BUYThe combination Euro/British Pound (EUR/GBP) breaks through the descending trendline upwards
A bullish trend up to the next resistance at 0.82944 will persist.
Caution: A possible counter-trend in the direction of the support zone at 0.82718 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend will persist. Target of the current trend is 0.83029268 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the resistance level at 0.82944 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Three White Soldiers’ candle pattern is existing. The candles show ‘Three White Soldiers’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83014 |
| 2nd High | 0.82965 |
| Next High | 0.82944 |
| Current Price | 0.82943 |
| Next Low | 0.82718 |
| 2nd Low | 0.82691 |
| 3rd Low | 0.82685 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three White Soldiers