EUR/GBP – 30M – BUYThe combination Euro/British Pound (EUR/GBP) jumps from the bullish trendline upwards
A continuation of the uptrend up to the next resistance level at 0.83003 is considered certain.
Caution: A possible trend reversal in the direction of the support level at 0.82742 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Three Outside Up’ candle chart pattern is detected. The chart shows ‘Three Outside Up’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83249 |
| 2nd High | 0.83027 |
| Next High | 0.83003 |
| Current Price | 0.82975 |
| Next Low | 0.82742 |
| 2nd Low | 0.82636 |
| 3rd Low | 0.82625 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Up