EUR/GBP – 30M – BUYThe combination Euro/British Pound (EUR/GBP) jumps from the bullish trendline downwards
A bearish trend down to the next support line at 0.82220 is certain.
Caution: A possible counter-trend in the direction of resistance at 0.82777 should be noted.
Consider stop-loss settings accordingly.
And also a ‘Tweezers Bottom’ candlestick pattern is found. The candles form ‘Tweezers Bottom’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Tweezers Bottom’ heading up is 52% (Bull Market) & 56% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.82952 |
| 2nd High | 0.82821 |
| Next High | 0.82777 |
| Current Price | 0.82667 |
| Next Low | 0.82220 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Tweezers Bottom