EUR/GBP – 1H – BUYCorrection of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend is certain. Target of the current trend is 0.83140616 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of resistance at 0.83249 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Outside Up’ chart pattern is detected. The candles show ‘Three Outside Up’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83314 |
| 2nd High | 0.83281 |
| Next High | 0.83249 |
| Current Price | 0.82990 |
| Next Low | 0.82625 |
| 2nd Low | 0.82220 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Up