GBP/USD – 1H – BUYThe currency pair British Pound/US Dollar (GBP/USD) breaks through the bullish trendline up.
A continuation of the upward movement upwards to the next resistance level at 1.27705 is expected.
Caution: A possible change in the direction of the support line at 1.26296 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Bearish SBS White Lines’ candlestick chart pattern is existing. The candles form ‘Bearish SBS White Lines’. this is a bearish 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 | 1.30476 |
| 2nd High | 1.30091 |
| Next High | 1.27705 |
| Current Price | 1.27358 |
| Next Low | 1.26296 |
| 2nd Low | 1.26171 |
| 3rd Low | 1.25246 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish SBS White Lines