EUR/GBP – 1H – BUYBesides a ‘Double top retreat up’ chart layout is detected. The formation shows ‘Double top retreat up’. which is a positive signal. The currency pair is likely to go up.
The pair Euro/British Pound (EUR/GBP) jumps from the descending trendline up.
A bullish ascent upwards to the next resistance at 0.87535 is considered certain.
Caution: A possible counter-trend in the direction of the support level at 0.87251 could be enabled.
Consider stop-loss settings accordingly.
Besides a ‘Northern Doji’ candle pattern is found. The chart forms ‘Northern Doji’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88176 |
| 2nd High | 0.88012 |
| Next High | 0.87535 |
| Current Price | 0.87370 |
| Next Low | 0.87251 |
| 2nd Low | 0.86657 |
| 3rd Low | 0.86638 |
0.87535 – 0.88012 – 0.87932 – 0.87367 – 0.87474 – 0.87453 —
0.87478 – 0.87357 —
36.595034150414 – 38.913583888243 —
– —
0.87535 – 1764846000
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Northern Doji – Double top retreat up – – – – – – – –