EUR/GBP – 30M – BUYThe currency pair Euro/British Pound (EUR/GBP) goes from the bearish trendline down.
A continuation of the downward movement down to the next support line at 0.82705 is expected.
Caution: A possible change in the direction of the resistance line at 0.83125 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Matching Low’ candlestick pattern is discovered. The chart forms ‘Matching Low’. 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 ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83314 |
| 2nd High | 0.83272 |
| Next High | 0.83125 |
| Current Price | 0.82995 |
| Next Low | 0.82705 |
| 2nd Low | 0.82220 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Matching Low