GBP/USD – 30M – BUYThe combination British Pound/US Dollar (GBP/USD) breaks through the descending trendline upwards
A bullish movement up to the next resistance level at 1.27015 will continue.
Caution: A possible trend reversal in the direction of support at 1.26296 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Bearish SBS White Lines’ candlestick pattern is found. The chart forms ‘Bearish SBS White Lines’. which is a negative signal. The currency pair is likely to fall. 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 | 1.27459 |
| 2nd High | 1.27222 |
| Next High | 1.27015 |
| Current Price | 1.26998 |
| Next Low | 1.26296 |
| 2nd Low | 1.26171 |
| 3rd Low | 1.25663 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish SBS White Lines