EUR/GBP – 1H – BUYCorrection of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 0.82746 at the Fibonacci level 1-Level. Caution: A possible counter-trend in the direction of the support level at 0.83281 could occur.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Matching Low’ candle pattern is discovered. The candles form ‘Matching Low’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83386 |
| 2nd High | 0.83314 |
| Next High | 0.83281 |
| Current Price | 0.82853 |
| Next Low | 0.82815 |
| 2nd Low | 0.82746 |
| 3rd Low | 0.82705 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Matching Low