GBP/USD – 30M – BUYThe combination British Pound/US Dollar (GBP/USD) jumps from the bullish trendline upwards
A continuation of the bullish trend up to the next resistance line at 1.32135 will continue.
Caution: A possible counter-trend in the direction of the support level at 1.31528 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Tweezers Bottom’ chart pattern is discovered. The candles show ‘Tweezers Bottom’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Bottom’ going up is 52% (Bull Market) & 56% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.32468 |
| 2nd High | 1.32182 |
| Next High | 1.32135 |
| Current Price | 1.31888 |
| Next Low | 1.31528 |
| 2nd Low | 1.3095 |
| 3rd Low | 1.308 |
1.32135 – 1.31152 – 1.31159 – 1.31528 – 1.3095 – 1.308 —
1.31728 – 1.31965 —
51.787641847597 – 57.894609603196 —
– —
1.32135 – 1764108000
Trading Signals: FOREX – GBP – GBP/USD – USD – Tweezers Bottom – – – – – – – – –