EUR/GBP – 1H – BUYThe currency pair Euro/British Pound (EUR/GBP) breaks through the bearish trendline upwards
The bullish trend upwards to the next resistance at 0.86707 is considered certain.
Caution: A possible trend reversal in the direction of support at 0.86492 should be noted.
Consider stop-loss settings accordingly.
Furthermore a ‘Bullish Engulfing’ candlestick chart pattern is existing. The candles show ‘Bullish Engulfing’. which is a bullish signal. 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 | 0.87323 |
| 2nd High | 0.87156 |
| Next High | 0.86707 |
| Current Price | 0.86690 |
| Next Low | 0.86492 |
| 2nd Low | 0.86485 |
| 3rd Low | 0.86437 |
0.86707 – 0.86692 – 0.87156 – 0.86492 – 0.86485 – 0.86699 —
0.86685 – 0.86726 —
51.614870688136 – 54.411029265894 —
– —
0.86707 – 1769706000
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Bullish Engulfing – – – – – – – – –