EUR/GBP – 30M – BUYCorrection of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Current target is 0.82904 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance line at 0.82965 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Bearish SBS White Lines’ candlestick pattern is discovered. The candles form ‘Bearish SBS White Lines’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83123 |
| 2nd High | 0.83014 |
| Next High | 0.82965 |
| Current Price | 0.82792 |
| Next Low | 0.82691 |
| 2nd Low | 0.82685 |
| 3rd Low | 0.82671 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bearish SBS White Lines