EUR/GBP – 1H – BUY

The combination Euro/British Pound (EUR/GBP) breaks through the bullish trendline up.

A continuation of the bullish trend upwards to the next resistance at 0.86938 is certain.

Caution: A possible counter-trend in the direction of the support level at 0.85567 could occur.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is existing. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which is often a bullish chart signal. The pair is likely to go up.

Moreover a ‘Resistance Level’ indicator signal is detected. The indicator is ‘Resistance Level’. which could be a positive chart signal. The pair is likely to go up.

Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is certain. Target of the current trend is 0.85969 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of resistance at 0.86938 could occur.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Northern Doji’ chart pattern is existing. The candles form ‘Northern Doji’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

0.85969 – 0.85391 – 0.85364 – 0.85567 – 0.85391 – 0.85078

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Northern Doji – Double top chart pattern