GBP/USD – 4H – BUYCorrection of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend is certain. Current target is 1.25815 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the resistance level at 1.26073 could occur.
Consider stop-loss settings accordingly.
Besides a ‘Three White Soldiers’ candle pattern is discovered. The candles show ‘Three White Soldiers’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27873 |
| 2nd High | 1.27283 |
| Next High | 1.26073 |
| Current Price | 1.25355 |
| Next Low | 1.23521 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three White Soldiers