EUR/GBP – 30M – BUYThe currency pair Euro/British Pound (EUR/GBP) jumps from the ascending trendline downwards
A bearish movement downwards to the next support line at 0.84581 will persist.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.85218 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Tweezers Top’ candle chart pattern is existing. The chart shows ‘Tweezers Top’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
Furthermore a ‘Double top chart pattern’ chart pattern is detected. The chart picture forms ‘Double top chart pattern’. this is a bearish pattern signal. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.85326 |
| 2nd High | 0.85312 |
| Next High | 0.85218 |
| Current Price | 0.84752 |
| Next Low | 0.84581 |
| 2nd Low | 0.84483 |
| 3rd Low | 0.84129 |
0.85218 – 0.85181 – 0.85218 – 0.84581 – 0.84955 – 0.84810
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Tweezers Top