Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Target of the current trend is 1.31447 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the resistance zone at 1.31447 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bullish Belt Hold’ candlestick pattern is detected. The candles show ‘Bullish Belt Hold’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
Next a ‘Resistance Level’ indicator signal is detected. The indicator is ‘Resistance Level’. which could be a positive chart scenario. The currency pair could go up.
Support & Resistance | Price Range* |
---|---|
3rd High | |
2nd High | 1.32072 |
Next High | 1.31447 |
Current Price | 1.30620 |
Next Low | 1.29846 |
2nd Low | 1.27428 |
3rd Low | 1.27243 |
1.31447 – 1.30472 – 1.28637 – 1.29846 – 1.27428 – 1.27509
Trading Signals: FOREX – GBP – GBP/USD – USD – Bullish Belt Hold