EUR/GBP – 30M – BUYThe pair Euro/British Pound (EUR/GBP) breaks through the ascending trendline up.
A continuation of the upward movement up to the next resistance at 0.83217 will continue.
Caution: A possible counter-trend in the direction of the support line at 0.83084 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Three Outside Up’ candlestick chart pattern is detected. The chart shows ‘Three Outside Up’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83272 |
| 2nd High | 0.83240 |
| Next High | 0.83217 |
| Current Price | 0.83271 |
| Next Low | 0.83084 |
| 2nd Low | 0.82764 |
| 3rd Low | 0.82746 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Up