GBP/USD – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend will persist. Current target is 1.25610376 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the resistance level at 1.25743 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three Outside Up’ candlestick chart pattern is existing. The chart shows ‘Three Outside Up’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.26136 |
| 2nd High | 1.25878 |
| Next High | 1.25743 |
| Current Price | 1.25383 |
| Next Low | 1.25260 |
| 2nd Low | 1.25093 |
| 3rd Low | 1.24744 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Up