EUR/GBP – 4H – BUY

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

A continuation of the downtrend down to the next support at 0.83224 is considered certain.

Caution: A possible counter-trend in the direction of the resistance level at 0.85404 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is considered certain. Current target is 0.84616 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support level at 0.85404 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

There is also a ‘Matching Low’ candlestick pattern is existing. The candles show ‘Matching Low’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ going up is 61% (Bull & Bear Market).

There is also a ‘Support Level’ indicator signal is existing. The indicator is ‘Support Level’. which is often a bearish signal. The currency pair could go down.

0.85404 – 0.85380 – 0.86235 – 0.84616 – 0.84795 – 0.85250

Download EUR/GBP Signal Image

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Matching Low