EUR/GBP – 1H – BUYThe combination Euro/British Pound (EUR/GBP) moves from the bullish trendline down.
The bearish trend down to the next support at 0.82742 is considered certain.
Caution: A possible change in the direction of the resistance zone at 0.83173 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Bullish Engulfing’ candle chart pattern is detected. The candles show ‘Bullish Engulfing’. this 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 ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83281 |
| 2nd High | 0.83249 |
| Next High | 0.83173 |
| Current Price | 0.82927 |
| Next Low | 0.82742 |
| 2nd Low | 0.82625 |
| 3rd Low | 0.82220 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bullish Engulfing