EUR/GBP – 1H – BUY

The currency pair Euro/British Pound (EUR/GBP) goes from the bearish trendline down.

A continuation of the downward movement down to the next support level at 0.85303 will persist.

Caution: A possible trend reversal in the direction of the resistance level at 0.85649 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Matching Low’ candle chart pattern is discovered. The candles form ‘Matching Low’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ heading up is 61% (Bull & Bear Market).

Then a ‘Double top chart pattern’ chart pattern is found. The chart picture shows ‘Double top chart pattern’. this is a bearish chart scenario. The currency pair is likely to go down.

Then a ‘Support Level’ indicator layout is existing. The indicator shows ‘Support Level’. which could be a negative signal. The currency pair could go down.

0.85649 – 0.85830 – 0.86235 – 0.85303 – 0.85385 – 0.85796

Download EUR/GBP Signal Image

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Matching Low