EUR/GBP – 30M – BUYThe currency pair Euro/British Pound (EUR/GBP) breaks through the descending trendline up.
An ascending movement upwards to the next resistance at 0.83027 is certain.
Caution: A possible counter-trend in the direction of the support line at 0.82857 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three White Soldiers’ candle chart pattern is existing. The chart shows ‘Three White Soldiers’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83281 |
| 2nd High | 0.83249 |
| Next High | 0.83027 |
| Current Price | 0.82972 |
| Next Low | 0.82857 |
| 2nd Low | 0.82845 |
| 3rd Low | 0.82795 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three White Soldiers