EUR/GBP – 30M – BUYThe combination Euro/British Pound (EUR/GBP) breaks through the descending trendline upwards
The bullish trend upwards to the next resistance at 0.83173 is expected.
Caution: A possible reversal of the trend in the direction of the support level at 0.82898 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Bearish SBS White Lines’ chart pattern is detected. The candles show ‘Bearish SBS White Lines’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83281 |
| 2nd High | 0.83249 |
| Next High | 0.83173 |
| Current Price | 0.82926 |
| Next Low | 0.82898 |
| 2nd Low | 0.82850 |
| 3rd Low | 0.82742 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish SBS White Lines