GBP/USD – 30M – BUYFurthermore a ‘Double bottom chart pattern’ chart pattern is existing. The chart shows ‘Double bottom chart pattern’. this is a bullish signal. The currency pair is likely to rise.
The combination British Pound/US Dollar (GBP/USD) breaks through the bearish trendline upwards
A bullish ascent up to the next resistance at 1.34587 is likely expected.
Caution: A possible counter-trend in the direction of the support zone at 1.34165 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Bullish Belt Hold’ candlestick pattern is existing. The chart shows ‘Bullish Belt Hold’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Belt Hold’ heading 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 – –