EUR/GBP – 1H – BUYThe combination Euro/British Pound (EUR/GBP) goes from the descending trendline down.
A continuation of the downward movement down to the next support at 0.82625 is considered certain.
Caution: A possible change in the direction of resistance at 0.83249 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Southern Doji’ candle chart pattern is detected. The candles show ‘Southern Doji’. 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 ‘Southern Doji’ going up is 51% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83314 |
| 2nd High | 0.83281 |
| Next High | 0.83249 |
| Current Price | 0.82895 |
| Next Low | 0.82625 |
| 2nd Low | 0.82220 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Southern Doji