EUR/GBP – 30M – BUYThe pair Euro/British Pound (EUR/GBP) moves from the descending trendline upwards
An ascending movement upwards to the next resistance at 0.83051 is likely expected.
Caution: A possible reversal of the trend in the direction of the support level at 0.82742 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Three Outside Up’ chart pattern is existing. The candles show ‘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 likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83249 |
| 2nd High | 0.83173 |
| Next High | 0.83051 |
| Current Price | 0.83233 |
| Next Low | 0.82742 |
| 2nd Low | 0.82636 |
| 3rd Low | 0.82625 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Up