GBP/USD – 1H – BUYCorrection of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend is expected. Target of the current trend is 1.27486516 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the resistance zone at 1.27283 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bearish SBS White Lines’ candlestick chart pattern is discovered. The chart shows ‘Bearish SBS White Lines’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27988 |
| 2nd High | 1.27873 |
| Next High | 1.27283 |
| Current Price | 1.27023 |
| Next Low | 1.26660 |
| 2nd Low | 1.26067 |
| 3rd Low | 1.25246 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish SBS White Lines