EUR/GBP – 4H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend will continue. 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 level at 0.86779 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bullish Belt Hold’ candle chart pattern is detected. The candles form ‘Bullish Belt Hold’. 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 probability of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.87227 |
| 2nd High | 0.86823 |
| Next High | 0.86779 |
| Current Price | 0.86477 |
| Next Low | 0.86227 |
| 2nd Low | 0.86166 |
| 3rd Low | 0.86113 |
0.86476 – 0.86779 – 0.86823 – 0.86227 – 0.86166 – 0.86503 —
0.86447 – 0.86557 —
52.815350805532 – 58.263022447511 —
– —
0.86476 – 1777910400
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bullish Belt Hold – – – – – – – – –