GBP/USD – 30M – BUYThe pair British Pound/US Dollar (GBP/USD) goes from the bearish trendline up.
A bullish ascent up to the next resistance level at 1.33360 is considered certain.
Caution: A possible counter-trend in the direction of the support zone at 1.32551 could happen.
Consider stop-loss settings accordingly.
In addition a ‘Latter Bottom’ candle pattern is existing. The chart forms ‘Latter Bottom’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Latter Bottom’ heading up is 56% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.34141 |
| 2nd High | 1.33451 |
| Next High | 1.33360 |
| Current Price | 1.32726 |
| Next Low | 1.32551 |
| 2nd Low | 1.32471 |
| 3rd Low | 1.32333 |
1.33360 – 1.33304 – 1.33215 – 1.32698 – 1.32751 – 1.32551
Trading Signals: FOREX – GBP – GBP/USD – USD – Latter Bottom