EUR/GBP – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is expected. Target of the current trend is 0.830135 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance line at 0.83281 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Bullish Engulfing’ chart pattern is discovered. The chart shows ‘Bullish Engulfing’. 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 ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83386 |
| 2nd High | 0.83314 |
| Next High | 0.83281 |
| Current Price | 0.82887 |
| Next Low | 0.82815 |
| 2nd Low | 0.82764 |
| 3rd Low | 0.82746 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bullish Engulfing