GBP/USD – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 1.31065 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance line at 1.31231 should always be considered.
Consider stop-loss settings accordingly.
Additionally a ‘Bullish Belt Hold’ candlestick chart pattern is found. The chart shows ‘Bullish Belt Hold’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.31707 |
| 2nd High | 1.31544 |
| Next High | 1.31231 |
| Current Price | 1.30718 |
| Next Low | 1.30491 |
| 2nd Low | 1.3037 |
| 3rd Low | 1.30111 |
1.31231 – 1.31544 – 1.31707 – 1.30491 – 1.3037 – 1.30429 —
1.30794 – 1.30721 —
49.243455014952 – 47.540573651726 —
– —
1.31231 – 1763656200
Trading Signals: FOREX – GBP – GBP/USD – USD – Bullish Belt Hold – – – – –