GBP/USD – 30M – BUYThe currency pair British Pound/US Dollar (GBP/USD) breaks through the bearish trendline up.
An ascent up to the next resistance level at 1.3632 is likely expected.
Caution: A possible change in the direction of the support level at 1.35466 is within the realm of possibility.
Consider stop-loss settings accordingly.
Additionally a ‘Bullish Belt Hold’ candle chart pattern is found. 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 chance of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.36575 |
| 2nd High | 1.36429 |
| Next High | 1.3632 |
| Current Price | 1.36255 |
| Next Low | 1.35466 |
| 2nd Low | 1.35343 |
| 3rd Low | 1.35132 |
1.3632 – 1.36079 – 1.36429 – 1.35466 – 1.3578 – 1.35343 —
1.36270 – 1.36306 —
65.086829145061 – 61.494491495151 —
– —
1.3632 – 1778176800
Trading Signals: FOREX – GBP – GBP/USD – USD – Bullish Belt Hold – – – – – – – – –