EUR/GBP – 1H – BUYThe combination Euro/British Pound (EUR/GBP) moves from the bullish trendline downwards
A bearish descent down to the next support at 0.82746 will continue.
Caution: A possible trend reversal in the direction of the resistance zone at 0.82983 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Matching Low’ candlestick pattern is existing. The chart shows ‘Matching Low’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83141 |
| 2nd High | 0.83119 |
| Next High | 0.82983 |
| Current Price | 0.82893 |
| Next Low | 0.82746 |
| 2nd Low | 0.82705 |
| 3rd Low | 0.82220 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Matching Low