EUR/GBP – 30M – BUYFurthermore a ‘Bullish Belt Hold’ chart pattern is detected. The candles show ‘Bullish Belt Hold’. 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 ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
Furthermore a ‘Double top chart pattern’ chart pattern is found. The chart picture forms ‘Double top chart pattern’. this is a bearish chart scenario. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.87377 |
| Current Price | 0.86581 |
| Next Low | 0.85189 |
| 2nd Low | 0.84694 |
| 3rd Low | 0.84483 |
0.87377 – 0.87250 – 0.86597 – 0.85189 – 0.85321 – 0.85912
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bullish Belt Hold