EUR/GBP – 30M – BUYThe pair Euro/British Pound (EUR/GBP) jumps from the ascending trendline upwards
A continuation of the upward movement up to the next resistance level at 0.83003 is expected.
Caution: A possible counter-trend in the direction of the support line at 0.82850 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Bullish Engulfing’ candle chart pattern is discovered. The candles show ‘Bullish Engulfing’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83249 |
| 2nd High | 0.83027 |
| Next High | 0.83003 |
| Current Price | 0.83059 |
| Next Low | 0.82850 |
| 2nd Low | 0.82742 |
| 3rd Low | 0.82636 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bullish Engulfing