GBP/USD – 30M – BUYThe combination British Pound/US Dollar (GBP/USD) moves from the ascending trendline upwards
A continuation of the bullish trend upwards to the next resistance at 1.25505 will persist.
Caution: A possible reversal of the trend in the direction of the support line at 1.24099 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bearish SBS White Lines’ candlestick pattern is existing. The candles form ‘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 chance of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.25690 |
| 2nd High | 1.25542 |
| Next High | 1.25505 |
| Current Price | 1.25122 |
| Next Low | 1.24099 |
| 2nd Low | 1.23878 |
| 3rd Low | 1.23521 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish SBS White Lines