EUR/GBP – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is certain. Current target is 0.83511256 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 0.83552 is within the realm of possibility.
Consider stop-loss settings accordingly.
Also there is a ‘Bullish Engulfing’ candlestick chart pattern is discovered. The chart shows ‘Bullish Engulfing’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83752 |
| 2nd High | 0.83642 |
| Next High | 0.83552 |
| Current Price | 0.83411 |
| Next Low | 0.83324 |
| 2nd Low | 0.83302 |
| 3rd Low | 0.83088 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bullish Engulfing