EUR/GBP – 30M – BUYThe currency pair Euro/British Pound (EUR/GBP) moves from the ascending trendline downwards
A bearish descent down to the next support level at 0.82504 will persist.
Caution: A possible trend reversal in the direction of the resistance zone at 0.82952 could occur.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three Outside Up’ candle pattern is existing. The chart shows ‘Three Outside Up’. 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 chance of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83314 |
| 2nd High | 0.83272 |
| Next High | 0.82952 |
| Current Price | 0.82674 |
| Next Low | 0.82504 |
| 2nd Low | 0.82304 |
| 3rd Low | 0.82243 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Up