The currency pair Euro/British Pound (EUR/GBP) jumps from the descending trendline up.
A bullish ascent upwards to the next resistance at 0.83386 is likely expected.
Caution: A possible change in the direction of the support zone at 0.83230 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three White Soldiers’ candlestick pattern is discovered. The candles form ‘Three White Soldiers’. which is a bullish signal. 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 | 0.83552 |
2nd High | 0.83512 |
Next High | 0.83386 |
Current Price | 0.83226 |
Next Low | 0.83230 |
2nd Low | 0.83088 |
3rd Low | 0.83041 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three White Soldiers