EUR/GBP – 30M – BUYThe combination Euro/British Pound (EUR/GBP) moves from the bearish trendline down.
A continuation of the downward movement downwards to the next support at 0.84483 is considered certain.
Caution: A possible change in the direction of the resistance line at 0.84819 could be enabled.
Consider stop-loss settings accordingly.
Additionally a ‘Tweezers Top’ candle pattern is discovered. The candles form ‘Tweezers Top’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.85218 |
| 2nd High | 0.84919 |
| Next High | 0.84819 |
| Current Price | 0.84528 |
| Next Low | 0.84483 |
| 2nd Low | 0.84129 |
| 3rd Low | 0.83224 |
0.84819 – 0.84919 – 0.85218 – 0.84581 – 0.84955 – 0.84810
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Tweezers Top