GBP/USD – 1H – BUYThe currency pair British Pound/US Dollar (GBP/USD) breaks through the ascending trendline upwards
A continuation of the uptrend upwards to the next resistance level at 1.38686 is certain.
Caution: A possible change in the direction of the support level at 1.36635 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘StochRSI %K line crosses above %D line’ indicator signal is discovered. The indicator is ‘StochRSI %K line crosses above %D line’. this is usually a bullish signal. The pair is likely to go up.
Moreover a ‘Bearish SBS White Lines’ chart pattern is existing. The candles form ‘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’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.38686 |
| Current Price | 1.37927 |
| Next Low | 1.36635 |
| 2nd Low | 1.36426 |
| 3rd Low | 1.34015 |
1.38686 – 1.37127 – 1.36817 – 1.36635 – 1.36426 – 1.34015 —
1.38186 – 1.38108 —
61.589058329278 – 54.461748610639 —
– —
1.38686 – 1769551200
Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish SBS White Lines – – – – – – – – –