EUR/GBP – 30M – BUYThe currency pair Euro/British Pound (EUR/GBP) breaks through the descending trendline up.
An ascending movement up to the next resistance line at 0.82938 will persist.
Caution: A possible change in the direction of the support level at 0.82663 is also possible.
Consider stop-loss settings accordingly.
In addition a ‘Three Outside Up’ candle chart pattern is detected. The candles show ‘Three Outside Up’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83005 |
| 2nd High | 0.83002 |
| Next High | 0.82938 |
| Current Price | 0.82821 |
| Next Low | 0.82663 |
| 2nd Low | 0.82649 |
| 3rd Low | 0.82596 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Up