GBP/USD – 1H – BUYThe pair British Pound/US Dollar (GBP/USD) moves from the bullish trendline upwards
A continuation of the bullish trend up to the next resistance at 1.27988 will continue.
Caution: A possible reversal of the trend in the direction of the support level at 1.27357 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three Outside Up’ candle pattern is discovered. The candles form ‘Three Outside Up’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.30091 |
| 2nd High | 1.28109 |
| Next High | 1.27988 |
| Current Price | 1.27732 |
| Next Low | 1.27357 |
| 2nd Low | 1.27165 |
| 3rd Low | 1.26296 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Up