EUR/GBP – 30M – BUYThe currency pair Euro/British Pound (EUR/GBP) breaks through the ascending trendline up.
A continuation of the upward movement up to the next resistance line at 0.87893 will continue.
Caution: A possible counter-trend in the direction of the support zone at 0.87831 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘%K crosses below %D’ indicator layout is detected. The indicator is ‘%K crosses below %D’. which is often a bearish chart scenario. The currency pair could go down.
Besides a ‘Bullish Belt Hold’ candle pattern is discovered. The chart shows ‘Bullish Belt Hold’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.87932 |
| 2nd High | 0.87899 |
| Next High | 0.87893 |
| Current Price | 0.87972 |
| Next Low | 0.87831 |
| 2nd Low | 0.87797 |
| 3rd Low | 0.87727 |
0.87893 – 0.87899 – 0.87932 – 0.87831 – 0.87797 – 0.87727 —
0.87888 – 0.88000 —
61.34616000663 – 63.141023395393 —
– —
0.87893 – 1764644400
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bullish Belt Hold – Inverse Head and Shoulder chart pattern – – – – – – – –