Also there is a ‘Double bottom chart pattern’ chart layout is found. The chart picture shows ‘Double bottom chart pattern’. which is a bullish chart scenario. The pair is likely to go up.
The pair Euro/British Pound (EUR/GBP) goes from the bullish trendline downwards
A bearish trend down to the next support at 0.85770 will persist.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.86137 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Three Line Strike – Bullish’ candle chart pattern is found. The chart shows ‘Three Line Strike – Bullish’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Line Strike – Bullish’ going up is 83% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.86938 |
| 2nd High | 0.86235 |
| Next High | 0.86137 |
| Current Price | 0.85994 |
| Next Low | 0.85770 |
| 2nd Low | 0.85703 |
| 3rd Low | 0.85567 |
0.85894 – 0.85969 – 0.85875 – 0.85770 – 0.85703 – 0.85567
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Line Strike – Bullish – Double bottom chart pattern