EUR/GBP – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is certain. Target of the current trend is 0.83016328 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the resistance level at 0.83005 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Three Outside Up’ candle chart pattern is existing. The candles form ‘Three Outside Up’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘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 | 0.83005 |
| Current Price | 0.82927 |
| Next Low | 0.82685 |
| 2nd Low | 0.82671 |
| 3rd Low | 0.82596 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Up