GBP/USD – 30M – BUYThe currency pair British Pound/US Dollar (GBP/USD) breaks through the ascending trendline up.
A continuation of the bullish trend upwards to the next resistance level at 1.37003 will persist.
Caution: A possible reversal of the trend in the direction of the support zone at 1.36635 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Three Outside Up’ candlestick chart pattern is existing. The chart forms ‘Three Outside Up’. which is a positive chart scenario. 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 | 1.37522 |
| 2nd High | 1.37127 |
| Next High | 1.37003 |
| Current Price | 1.37827 |
| Next Low | 1.36635 |
| 2nd Low | 1.36426 |
| 3rd Low | 1.34819 |
1.37003 – 1.37127 – 1.36817 – 1.36635 – 1.367 – 1.36426 —
1.37907 – 1.37850 —
83.333853597975 – 63.769014577612 —
– —
1.37003 – 1769488200
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Up – – – – – – – – –