GBPUSD forms a double bottom formation after candles refused to close below 1.5550.
Candles refused to close below 1.5559 and broke above 1.5611, the nearest resistance.
After candles broke above 1.5611, it turned into a support, allowing for a continuation of the bullish momentum.
Trend Direction | S3 | S2 | S1 | R1 | R2 | R3 | Entry | Stop Loss | Exit |
Bullish | 1.5590 | 1.5611 | 1.5731 | 1.5805 |