EUR/GBP – 1H – BUYThe combination Euro/British Pound (EUR/GBP) breaks through the descending trendline up.
A bullish movement up to the next resistance line at 0.83007 is certain.
Caution: A possible counter-trend in the direction of the support level at 0.82671 could happen.
Consider stop-loss settings accordingly.
Furthermore a ‘Three White Soldiers’ candlestick pattern is discovered. The candles form ‘Three White Soldiers’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood 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 | 0.83094 |
| Next Low | 0.82671 |
| 2nd Low | 0.82596 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three White Soldiers