EUR/GBP – 1H – BUYThe combination Euro/British Pound (EUR/GBP) goes from the bullish trendline downwards
A bearish descent downwards to the next support at 0.82746 is certain.
Caution: A possible counter-trend in the direction of the resistance level at 0.83240 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Below The Stomach’ candlestick chart pattern is detected. The chart forms ‘Below The Stomach’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Below The Stomach’ heading down is 60% (Bull Market) & 65% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83314 |
| 2nd High | 0.83272 |
| Next High | 0.83240 |
| Current Price | 0.83155 |
| Next Low | 0.82746 |
| 2nd Low | 0.82705 |
| 3rd Low | 0.82220 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Below The Stomach