GBP/USD – 30M – BUYThe currency pair British Pound/US Dollar (GBP/USD) breaks through the bullish trendline upwards
A continuation of the bullish trend upwards to the next resistance line at 1.27988 will persist.
Caution: A possible change in the direction of the support level at 1.27235 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bearish SBS White Lines’ chart pattern is existing. The candles form ‘Bearish SBS White Lines’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood 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 | 1.27775 |
| Next Low | 1.27235 |
| 2nd Low | 1.27165 |
| 3rd Low | 1.26296 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish SBS White Lines