EUR/GBP – 4H – BUYThe pair Euro/British Pound (EUR/GBP) jumps from the bearish trendline down.
A continuation of the bearish trend down to the next support line at 0.82685 is certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.83123 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three White Soldiers’ candle pattern is discovered. The chart forms ‘Three White Soldiers’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83752 |
| 2nd High | 0.83642 |
| Next High | 0.83123 |
| Current Price | 0.82895 |
| Next Low | 0.82685 |
| 2nd Low | 0.82671 |
| 3rd Low | 0.82596 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three White Soldiers