EUR/GBP – 1H – BUY

The currency pair Euro/British Pound (EUR/GBP) breaks through the bullish trendline upwards

A continuation of the upward movement upwards to the next resistance line at 0.88391 is likely expected.

Caution: A possible trend reversal in the direction of the support line at 0.87975 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Resistance Level’ indicator layout is discovered. The indicator shows ‘Resistance Level’. which could be a positive chart scenario. The currency pair could go up.

Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is likely expected. Current target is 0.8847182 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the resistance level at 0.88391 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Northern Doji’ chart pattern is detected. The candles show ‘Northern Doji’. which is a positive signal. 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).

0.88391 – 0.88233 – 0.8865 – 0.87975 – 0.87895 – 0.88119 —
0.88325 – 0.88256 —
63.173016188274 – 56.794141552036 —
– —
0.88391 – 1763553600

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Northern Doji – – – – –