EUR/GBP – 30M – BUYThe currency pair Euro/British Pound (EUR/GBP) jumps from the bearish trendline down.
A continuation of the downward movement down to the next support line at 0.83863 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Three White Soldiers’ chart pattern is found. The candles form ‘Three White Soldiers’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 0.84246 |
| Next Low | 0.83863 |
| 2nd Low | 0.83844 |
| 3rd Low | 0.83644 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three White Soldiers