EUR/GBP – 30M – BUYThe pair Euro/British Pound (EUR/GBP) breaks through the bullish trendline up.
A continuation of the uptrend upwards to the next resistance level at 0.84061 is expected.
Caution: A possible trend reversal in the direction of the support zone at 0.83635 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Three Outside Up’ candlestick chart pattern is detected. The candles show ‘Three Outside Up’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.84061 |
| Current Price | 0.83851 |
| Next Low | 0.83635 |
| 2nd Low | 0.82832 |
| 3rd Low | 0.82742 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Up