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 0.83359 is expected.
Caution: A possible reversal of the trend in the direction of the support level at 0.83041 is within the realm of possibility.
Consider stop-loss settings accordingly.
Correction of the major bearish trend broke the Fibonacci 0.79-Level.Continuation of the current ascending trend is expected. Current target is 0.83461 at the Fibonacci level 1-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 0.83359 is within the realm of possibility.
Consider stop-loss settings accordingly.
And also a ‘Three White Soldiers’ candlestick chart pattern is found. The candles show ‘Three White Soldiers’. which 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 chance of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83581 |
| 2nd High | 0.83461 |
| Next High | 0.83359 |
| Current Price | 0.83344 |
| Next Low | 0.83041 |
| 2nd Low | 0.82675 |
| 3rd Low | 0.82649 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three White Soldiers