GBP/USD – 30M – BUYThe pair British Pound/US Dollar (GBP/USD) breaks through the descending trendline upwards
A bullish ascent upwards to the next resistance line at 1.25743 is certain.
Caution: A possible counter-trend in the direction of the support level at 1.25184 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bearish SBS White Lines’ candle pattern is found. The candles show ‘Bearish SBS White Lines’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.26136 |
| 2nd High | 1.25878 |
| Next High | 1.25743 |
| Current Price | 1.25416 |
| Next Low | 1.25184 |
| 2nd Low | 1.25093 |
| 3rd Low | 1.24744 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish SBS White Lines