EUR/GBP – 4H – BUYThe currency pair Euro/British Pound (EUR/GBP) moves from the ascending trendline downwards
A descending movement down to the next support at 0.82625 is likely expected.
Caution: A possible change in the direction of the resistance zone at 0.83249 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Three Outside Up’ chart pattern is existing. The chart shows ‘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 success rate of a ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83642 |
| 2nd High | 0.83281 |
| Next High | 0.83249 |
| Current Price | 0.83050 |
| Next Low | 0.82625 |
| 2nd Low | 0.82220 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Up