EUR/GBP – 1H – BUYThe pair Euro/British Pound (EUR/GBP) breaks through the bearish trendline up.
A bullish ascent up to the next resistance level at 0.87121 is expected.
Caution: A possible reversal of the trend in the direction of support at 0.86863 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bullish Engulfing’ candlestick pattern is detected. The candles show ‘Bullish Engulfing’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.87871 |
| 2nd High | 0.87389 |
| Next High | 0.87121 |
| Current Price | 0.87092 |
| Next Low | 0.86863 |
| 2nd Low | 0.86856 |
| 3rd Low | 0.86824 |
0.87121 – 0.87389 – 0.87871 – 0.86863 – 0.87124 – 0.87453 —
0.87121 – 0.87117 —
48.162675528856 – 49.02180872361 —
0.87121 – 1772611200 —
– 1772611200
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bullish Engulfing – Rising Wedge Chart Pattern – – – – – – – –