EUR/GBP – 1H – BUYThe combination Euro/British Pound (EUR/GBP) goes from the bullish trendline down.
A descending movement down to the next support line at 0.82243 is considered certain.
Caution: A possible trend reversal in the direction of the resistance level at 0.83272 is within the realm of possibility.
Consider stop-loss settings accordingly.
Besides a ‘Three White Soldiers’ chart pattern is found. The candles show ‘Three White Soldiers’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83386 |
| 2nd High | 0.83314 |
| Next High | 0.83272 |
| Current Price | 0.82655 |
| Next Low | 0.82243 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three White Soldiers