EUR/GBP – 30M – BUYThe combination Euro/British Pound (EUR/GBP) breaks through the bullish trendline up.
A continuation of the bullish trend up to the next resistance line at 0.83072 will persist.
Caution: A possible reversal of the trend in the direction of the support line at 0.82636 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three Outside Up’ candlestick chart pattern is discovered. The chart shows ‘Three Outside Up’. 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 success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83314 |
| 2nd High | 0.83281 |
| Next High | 0.83072 |
| Current Price | 0.83072 |
| Next Low | 0.82636 |
| 2nd Low | 0.82625 |
| 3rd Low | 0.82220 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Up