GBP/USD – 30M – BUYThe combination British Pound/US Dollar (GBP/USD) moves from the descending trendline downwards
A continuation of the downtrend down to the next support level at 1.24744 will persist.
Caution: A possible counter-trend in the direction of resistance at 1.25878 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Bullish Harami’ candle pattern is discovered. The candles form ‘Bullish Harami’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Harami’ heading up is 53% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.26666 |
| 2nd High | 1.26136 |
| Next High | 1.25878 |
| Current Price | 1.25246 |
| Next Low | 1.24744 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Bullish Harami