GBP/USD – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 1.3507 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 1.351 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Tweezers Bottom’ candle chart pattern is detected. The chart forms ‘Tweezers Bottom’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Bottom’ heading up is 52% (Bull Market) & 56% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.35394 |
| 2nd High | 1.35352 |
| Next High | 1.351 |
| Current Price | 1.34912 |
| Next Low | 1.34787 |
| 2nd Low | 1.34746 |
| 3rd Low | 1.34727 |
1.351 – 1.35352 – 1.35394 – 1.34787 – 1.34916 – 1.34746 —
1.35003 – 1.34931 —
41.949948638572 – 44.624345143445 —
– —
1.351 – 1776916800
Trading Signals: FOREX – GBP – GBP/USD – USD – Tweezers Bottom – – – – – – – – –