EUR/GBP – 4H – BUYCorrection of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend will persist. Target of the current trend is 0.83429074 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the resistance level at 0.83272 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Three White Soldiers’ candlestick pattern is detected. The candles show ‘Three White Soldiers’. which is a bullish 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’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83752 |
| 2nd High | 0.83642 |
| Next High | 0.83272 |
| Current Price | 0.83092 |
| Next Low | 0.82243 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three White Soldiers