EUR/GBP – 30M – BUYThe currency pair Euro/British Pound (EUR/GBP) breaks through the descending trendline upwards
An ascent upwards to the next resistance line at 0.83314 will persist.
Caution: A possible counter-trend in the direction of the support zone at 0.83044 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Three Line Strike – Bullish’ candle pattern is detected. The candles form ‘Three Line Strike – Bullish’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Line Strike – Bullish’ heading up is 83% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83512 |
| 2nd High | 0.83386 |
| Next High | 0.83314 |
| Current Price | 0.83087 |
| Next Low | 0.83044 |
| 2nd Low | 0.83041 |
| 3rd Low | 0.82675 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Line Strike – Bullish