EUR/GBP – 4H – BUYThe currency pair Euro/British Pound (EUR/GBP) breaks through the descending trendline upwards
An ascent upwards to the next resistance at 0.83281 is likely expected.
Caution: A possible change in the direction of the support zone at 0.82625 should be noted.
Consider stop-loss settings accordingly.
And also a ‘Three Outside Up’ candlestick pattern is discovered. The candles form ‘Three Outside Up’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83752 |
| 2nd High | 0.83642 |
| Next High | 0.83281 |
| Current Price | 0.82982 |
| Next Low | 0.82625 |
| 2nd Low | 0.82220 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Up