EUR/GBP – 1H – BUYThe currency pair Euro/British Pound (EUR/GBP) moves from the bearish trendline down.
A continuation of the bearish trend downwards to the next support line at 0.82625 is expected.
Caution: A possible change in the direction of the resistance zone at 0.83072 should be noted.
Consider stop-loss settings accordingly.
Additionally a ‘Matching Low’ candle chart pattern is discovered. The candles show ‘Matching Low’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83314 |
| 2nd High | 0.83281 |
| Next High | 0.83072 |
| Current Price | 0.82723 |
| Next Low | 0.82625 |
| 2nd Low | 0.82220 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Matching Low