GBP/USD – 30M – BUYThe pair British Pound/US Dollar (GBP/USD) breaks through the descending trendline upwards
An ascending movement up to the next resistance level at 1.27988 is considered certain.
Caution: A possible change in the direction of the support level at 1.27165 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three Outside Up’ candle pattern is discovered. The chart shows ‘Three Outside Up’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.28732 |
| 2nd High | 1.28109 |
| Next High | 1.27988 |
| Current Price | 1.27625 |
| Next Low | 1.27165 |
| 2nd Low | 1.26296 |
| 3rd Low | 1.26171 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Up