EUR/GBP – 4H – BUYThe pair Euro/British Pound (EUR/GBP) breaks through the descending trendline up.
A bullish movement up to the next resistance level at 0.83272 is certain.
Caution: A possible change in the direction of the support level at 0.82243 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend broke the Fibonacci 0-Level.Continuation of the current ascending trend is certain. Target of the current trend is 0.82599124 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the resistance line at 0.83272 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Three Outside Up’ chart pattern is detected. The chart shows ‘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 | 0.83752 |
| 2nd High | 0.83642 |
| Next High | 0.83272 |
| Current Price | 0.82667 |
| Next Low | 0.82243 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Up