EUR/GBP – 1H – BUYThe pair Euro/British Pound (EUR/GBP) breaks through the ascending trendline up.
A continuation of the uptrend up to the next resistance at 0.83386 is likely expected.
Caution: A possible change in the direction of the support level at 0.82898 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is likely expected. Current target is 0.83249 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the resistance level at 0.83386 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Three White Soldiers’ chart pattern is discovered. The candles show ‘Three White Soldiers’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83642 |
| 2nd High | 0.83552 |
| Next High | 0.83386 |
| Current Price | 0.83347 |
| Next Low | 0.82898 |
| 2nd Low | 0.82742 |
| 3rd Low | 0.82625 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three White Soldiers