GBP/USD – 30M – BUYThe currency pair British Pound/US Dollar (GBP/USD) breaks through the bullish trendline up.
A continuation of the upward movement up to the next resistance at 1.25359 will persist.
Caution: A possible trend reversal in the direction of the support zone at 1.25045 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Bearish SBS White Lines’ candlestick chart pattern is found. The candles show ‘Bearish SBS White Lines’. which is a negative pattern signal. The pair is likely to go down. 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 | 1.25743 |
| 2nd High | 1.25501 |
| Next High | 1.25359 |
| Current Price | 1.25623 |
| Next Low | 1.25045 |
| 2nd Low | 1.25010 |
| 3rd Low | 1.24744 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish SBS White Lines