GBP/USD – 30M – BUYThe pair British Pound/US Dollar (GBP/USD) breaks through the descending trendline upwards
A bullish movement up to the next resistance line at 1.27283 is expected.
Caution: A possible trend reversal in the direction of support at 1.26988 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Bearish SBS White Lines’ candle pattern is found. The chart shows ‘Bearish SBS White Lines’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27988 |
| 2nd High | 1.27873 |
| Next High | 1.27283 |
| Current Price | 1.27017 |
| Next Low | 1.26988 |
| 2nd Low | 1.26660 |
| 3rd Low | 1.26354 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish SBS White Lines