EUR/GBP – 1H – BUYThe currency pair Euro/British Pound (EUR/GBP) breaks through the bearish trendline up.
A bullish movement upwards to the next resistance level at 0.86481 is expected.
Caution: A possible change in the direction of the support zone at 0.86093 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Support Level’ indicator layout is discovered. The indicator shows ‘Support Level’. which is often a bullish chart signal. The pair is likely to go up.
Correction of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend is expected. Current target is 0.86582678 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of the resistance level at 0.86481 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Northern Doji’ candle pattern is detected. The chart shows ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.86707 |
| 2nd High | 0.86490 |
| Next High | 0.86481 |
| Current Price | 0.86479 |
| Next Low | 0.86093 |
| 2nd Low | 0.86081 |
| 3rd Low | 0.85960 |
0.86481 – 0.86490 – 0.86707 – 0.86093 – 0.86227 – 0.86231 — 59.284807376564 – 63.254536012302 — 25.065737800089 – 41.283338455759 – 13.697936231488 – 25.337226377079
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Northern Doji – Double top retreat up – –