EUR/GBP – 1H – BUYThe pair Euro/British Pound (EUR/GBP) breaks through the bearish trendline up.
An ascending movement upwards to the next resistance level at 0.83007 is certain.
Caution: A possible reversal of the trend in the direction of support at 0.82864 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Three White Soldiers’ chart pattern is discovered. The chart shows ‘Three White Soldiers’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83386 |
| 2nd High | 0.83314 |
| Next High | 0.83007 |
| Current Price | 0.82926 |
| Next Low | 0.82864 |
| 2nd Low | 0.82671 |
| 3rd Low | 0.82596 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three White Soldiers