EUR/GBP – 1H – BUYThe pair Euro/British Pound (EUR/GBP) breaks through the descending trendline upwards
A bullish trend up to the next resistance line at 0.83249 will continue.
Caution: A possible reversal of the trend in the direction of the support level at 0.82625 could happen.
Consider stop-loss settings accordingly.
Besides a ‘Three Outside Up’ candlestick chart pattern is existing. The candles show ‘Three Outside Up’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83314 |
| 2nd High | 0.83281 |
| Next High | 0.83249 |
| Current Price | 0.82972 |
| Next Low | 0.82625 |
| 2nd Low | 0.82220 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Up