EUR/GBP – 1H – BUYThe pair Euro/British Pound (EUR/GBP) breaks through the descending trendline up.
The bullish trend up to the next resistance level at 0.83461 will continue.
Caution: A possible counter-trend in the direction of the support level at 0.82675 is also possible.
Consider stop-loss settings accordingly.
Additionally a ‘Three White Soldiers’ candle chart pattern is existing. The candles show ‘Three White Soldiers’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83959 |
| 2nd High | 0.83752 |
| Next High | 0.83461 |
| Current Price | 0.83481 |
| Next Low | 0.82675 |
| 2nd Low | 0.82596 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three White Soldiers