The pair British Pound/US Dollar (GBP/USD) breaks through the bearish trendline upwards
A bullish trend up to the next resistance at 1.35723 is likely expected.
Caution: A possible trend reversal in the direction of the support zone at 1.35491 is within the realm of possibility.
Consider stop-loss settings accordingly.
There is also a ‘Three White Soldiers’ candlestick pattern is found. The candles form ‘Three White Soldiers’. which is a bullish pattern signal. The currency pair is likely to go up. 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 | 1.36711 |
| 2nd High | 1.36613 |
| Next High | 1.35723 |
| Current Price | 1.35701 |
| Next Low | 1.35491 |
| 2nd Low | 1.34952 |
| 3rd Low | 1.34819 |
1.35723 – 1.36613 – 1.36586 – 1.35491 – 1.34952 – 1.35519 —
1.35555 – 1.35675 —
45.696805382982 – 53.756230216646 —
– —
1.35723 – 1771376400
Trading Signals: FOREX – GBP – GBP/USD – USD – Three White Soldiers – – – – – – – – –