GBP/USD – 1H – BUY

The combination British Pound/US Dollar (GBP/USD) breaks through the descending trendline up.

A bullish ascent up to the next resistance line at 1.34668 is certain.

Caution: A possible change in the direction of the support line at 1.32456 could happen.
Consider stop-loss settings accordingly.

Then a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is existing. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which could be a positive chart scenario. The currency pair is likely to rise.

Then a ‘Support Level’ indicator layout is existing. The indicator shows ‘Support Level’. this is usually a bullish signal. The currency pair could go up.

Correction of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend is certain. Current target is 1.33423 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the resistance line at 1.34668 could happen.
Consider stop-loss settings accordingly.

Then a ‘Three Outside Up’ candlestick pattern is found. The candles form ‘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’ going up is 75% (Bull Market) & 74% (Bear Market).

1.34668 – 1.33743 – 1.33642 – 1.32456 – 1.32509 – 1.32731 —
1.33233 – 1.32799 —
42.268106157046 – 34.917912128349 —
– —
1.34668 – 1773957600

Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Up – – – – – – – – –