GBP/USD – 30M – BUYThe currency pair British Pound/US Dollar (GBP/USD) breaks through the descending trendline up.
A bullish movement up to the next resistance level at 1.27988 is certain.
Caution: A possible reversal of the trend in the direction of the support line at 1.27165 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bearish SBS White Lines’ chart pattern is discovered. The chart shows ‘Bearish SBS White Lines’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.28732 |
| 2nd High | 1.28109 |
| Next High | 1.27988 |
| Current Price | 1.27484 |
| Next Low | 1.27165 |
| 2nd Low | 1.26296 |
| 3rd Low | 1.26171 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish SBS White Lines