EUR/GBP – 1H – BUYThe currency pair Euro/British Pound (EUR/GBP) breaks through the descending trendline upwards
A bullish trend upwards to the next resistance level at 0.83173 is certain.
Caution: A possible change in the direction of the support level at 0.82898 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is certain. Current target is 0.83101736 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the resistance level at 0.83173 could occur.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Three White Soldiers’ candlestick pattern is discovered. The candles form ‘Three White Soldiers’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83281 |
| 2nd High | 0.83249 |
| Next High | 0.83173 |
| Current Price | 0.82987 |
| Next Low | 0.82898 |
| 2nd Low | 0.82742 |
| 3rd Low | 0.82625 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three White Soldiers