EUR/GBP – 30M – BUYThe combination Euro/British Pound (EUR/GBP) breaks through the bearish trendline upwards
An ascent upwards to the next resistance line at 0.82821 is likely expected.
Caution: A possible reversal of the trend in the direction of the support zone at 0.82492 is also possible.
Consider stop-loss settings accordingly.
Besides a ‘Three Outside Up’ candle pattern is discovered. The candles show ‘Three Outside Up’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83272 |
| 2nd High | 0.82952 |
| Next High | 0.82821 |
| Current Price | 0.82620 |
| Next Low | 0.82492 |
| 2nd Low | 0.82304 |
| 3rd Low | 0.82243 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Up