EUR/GBP – 4H – BUYThe pair Euro/British Pound (EUR/GBP) breaks through the bearish trendline upwards
A bullish ascent up to the next resistance at 0.83642 is expected.
Caution: A possible trend reversal in the direction of the support zone at 0.82243 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend is expected. Current target is 0.83429074 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the resistance zone at 0.83642 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Three White Soldiers’ candlestick pattern is detected. The chart shows ‘Three White Soldiers’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.84474 |
| 2nd High | 0.83752 |
| Next High | 0.83642 |
| Current Price | 0.83178 |
| Next Low | 0.82243 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three White Soldiers