EUR/GBP – 30M – BUYThe pair Euro/British Pound (EUR/GBP) jumps from the bullish trendline downwards
The bearish trend downwards to the next support at 0.83151 will continue.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.83691 could happen.
Consider stop-loss settings accordingly.
Moreover a ‘Northern Doji’ candle pattern is discovered. The chart shows ‘Northern Doji’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
Moreover a ‘Double top chart pattern’ chart layout is detected. The formation shows ‘Double top chart pattern’. this is a bearish pattern signal. The currency pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83835 |
| 2nd High | 0.83740 |
| Next High | 0.83691 |
| Current Price | 0.83534 |
| Next Low | 0.83151 |
| 2nd Low | 0.82498 |
| 3rd Low | 0.82473 |
0.83691 – 0.83410 – 0.83448 – 0.83557 – 0.83151 – 0.83229
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Northern Doji