EUR/GBP – 1H – BUYThe combination Euro/British Pound (EUR/GBP) goes from the bullish trendline up.
A continuation of the upward movement up to the next resistance level at 0.83119 will persist.
Caution: A possible change in the direction of the support zone at 0.82773 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Three Outside Up’ candlestick pattern is detected. The candles show ‘Three Outside Up’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83272 |
| 2nd High | 0.83141 |
| Next High | 0.83119 |
| Current Price | 0.82862 |
| Next Low | 0.82773 |
| 2nd Low | 0.82770 |
| 3rd Low | 0.82705 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Up