EUR/GBP – 4H – BUY

The combination Euro/British Pound (EUR/GBP) breaks through the descending trendline upwards

The bullish trend up to the next resistance at 0.86476 is certain.

Caution: A possible trend reversal in the direction of support at 0.86227 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

Furthermore a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is found. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a positive chart signal. The currency pair is likely to rise.

Furthermore a ‘Support Level’ indicator signal is discovered. The indicator is ‘Support Level’. this is usually a bullish signal. The pair is likely to go up.

Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is certain. Target of the current trend is 0.866965 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance zone at 0.86476 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

Furthermore a ‘Three Outside Up’ candlestick chart pattern is found. The candles form ‘Three Outside Up’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).

0.86476 – 0.86779 – 0.86823 – 0.86227 – 0.86166 – 0.86503 —
0.86374 – 0.86453 —
42.555814298123 – 50.934316888342 —
– —
0.86476 – 1777910400

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Up – – – – – – – – –