EUR/GBP – 30M – BUYThe currency pair Euro/British Pound (EUR/GBP) moves from the ascending trendline downwards
A bearish trend down to the next support level at 0.83635 is expected.
Caution: A possible change in the direction of the resistance zone at 0.84061 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Advance Block’ candlestick pattern is detected. The candles show ‘Advance Block’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Advance Block’ heading down is 64% (Bull Market) & 61% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.84061 |
| Current Price | 0.83716 |
| Next Low | 0.83635 |
| 2nd Low | 0.82832 |
| 3rd Low | 0.82742 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Advance Block