EUR/GBP – 4H – BUYThe combination Euro/British Pound (EUR/GBP) breaks through the bearish trendline up.
The bullish trend up to the next resistance at 0.83272 is certain.
Caution: A possible change in the direction of the support level at 0.82220 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend is certain. Target of the current trend is 0.83424152 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of the resistance level at 0.83272 could occur.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Three Outside Up’ candle chart pattern is detected. The candles form ‘Three Outside Up’. which is a positive 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’ heading 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 | 0.83070 |
| Next Low | 0.82220 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Up