EUR/GBP – 1H – BUYThe combination Euro/British Pound (EUR/GBP) breaks through the descending trendline up.
An ascending movement up to the next resistance at 0.86553 will continue.
Caution: A possible change in the direction of support at 0.86384 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Support Level’ indicator signal is discovered. The indicator shows ‘Support Level’. which could be a positive signal. The currency pair could go up.
Correction of the major bullish trend halted around the Fibonacci 1-Level.Continuation of the current ascending trend will continue. Current target is 0.86480514 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of resistance at 0.86553 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bullish Engulfing’ candlestick pattern is found. The candles show ‘Bullish Engulfing’. 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 chance of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.86938 |
| 2nd High | 0.86835 |
| Next High | 0.86553 |
| Current Price | 0.86614 |
| Next Low | 0.86384 |
| 2nd Low | 0.86093 |
| 3rd Low | 0.86081 |
0.86553 – 0.86835 – 0.86804 – 0.86384 – 0.864 – 0.86645 — 49.37896606324 – 63.874944406508 — 40.614065384591 – 68.654389948152 – 56.627932457924 – 55.526170628495
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bullish Engulfing – Triple bottom chart pattern – –