EUR/GBP – 1H – BUY

The pair Euro/British Pound (EUR/GBP) breaks through the descending trendline up.

The bullish trend upwards to the next resistance at 0.86748 is certain.

Caution: A possible counter-trend in the direction of the support zone at 0.86492 is within the realm of possibility.
Consider stop-loss settings accordingly.

Additionally a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a positive signal. The currency pair is likely to rise.

Additionally a ‘MACD-Hist Hidden Bullish Divergence’ indicator layout is found. The indicator shows ‘MACD-Hist Hidden Bullish Divergence’. which could be a positive signal. The currency pair is likely to rise.

Additionally a ‘Support Level’ indicator layout is existing. The indicator shows ‘Support Level’. which could be a positive chart signal. The currency pair could go up.

Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is certain. Current target is 0.868205 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of resistance at 0.86748 is within the realm of possibility.
Consider stop-loss settings accordingly.

Additionally a ‘Three Outside Up’ candle chart pattern is detected. The chart forms ‘Three Outside Up’. 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 success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

0.86748 – 0.86707 – 0.86692 – 0.86492 – 0.86485 – 0.86699 —
0.86652 – 0.86655 —
43.877091078526 – 47.405366248178 —
– —
0.86748 – 1769774400

Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Outside Up – Head and Shoulder chart pattern – – – – – – – –