Buy EUR/GBP – 1H – BUY

The combination Euro/British Pound (EUR/GBP) jumps from the bearish trendline downwards

A continuation of the downtrend down to the next support level at 0.84817 is considered certain.

Caution: A possible counter-trend in the direction of resistance at 0.85116 could happen.
Consider stop-loss settings accordingly.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 0.84817 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support zone at 0.85116 could happen.
Consider stop-loss settings accordingly.

Next a ‘Shooting Star’ candlestick chart pattern is detected. The chart forms ‘Shooting Star’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Shooting Star’ heading down is 59% (Bull Market) & 60% (Bear Market).

Support & Resistance Price Range*
3rd High 0.85472
2nd High 0.85445
Next High 0.85116
Current Price 0.84987
Next Low 0.84817
2nd Low 0.84694
3rd Low 0.83224

0.85116 – 0.85445 – 0.85472 – 0.84817 – 0.84865 – 0.85107

Download EUR/GBP Signal Image

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