EUR/GBP – 30M – BUYThe pair Euro/British Pound (EUR/GBP) breaks through the bearish trendline up.
An ascending movement up to the next resistance at 0.83051 will persist.
Caution: A possible counter-trend in the direction of the support zone at 0.82857 could happen.
Consider stop-loss settings accordingly.
Correction of the major bullish trend halted around the Fibonacci 1-Level.Continuation of the current ascending trend will persist. Current target is 0.82919122 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the resistance line at 0.83051 could happen.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Outside Up’ candlestick pattern is discovered. The chart shows ‘Three Outside Up’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ going 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 | 0.82937 |
| Next Low | 0.82857 |
| 2nd Low | 0.82850 |
| 3rd Low | 0.82742 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Up