GBP/USD – 30M – BUYAnd also a ‘Double bottom chart pattern’ chart pattern is discovered. The chart forms ‘Double bottom chart pattern’. which is a positive pattern signal. The pair is likely to go up.
The pair British Pound/US Dollar (GBP/USD) breaks through the descending trendline upwards
An ascent up to the next resistance line at 1.34587 is expected.
Caution: A possible counter-trend in the direction of the support level at 1.34165 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bullish Belt Hold’ candle pattern is found. The chart shows ‘Bullish Belt Hold’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.35437 |
| 2nd High | 1.35302 |
| Next High | 1.34587 |
| Current Price | 1.34638 |
| Next Low | 1.34165 |
| 2nd Low | 1.34162 |
| 3rd Low | 1.33899 |
1.34587 – 1.35302 – 1.35179 – 1.34165 – 1.34826 – 1.34162 — 57.665123344833 – 64.166792018626 — 33.333333333333 – 14.37430786268 – 62.561601381903 – 38.12476928756
Trading Signals: FOREX – GBP – GBP/USD – USD – Bullish Belt Hold – Double bottom chart pattern – –