GBP/USD – 1H – BUY

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

An ascending movement up to the next resistance at 1.32823 is considered certain.

Caution: A possible trend reversal in the direction of the support zone at 1.31586 could happen.
In the case of a trade, always set appropriate stop-loss settings.

Also there is a ‘StochRSI %K line crosses above %D line’ indicator layout is discovered. The indicator is ‘StochRSI %K line crosses above %D line’. this is usually a bullish chart signal. The pair is likely to go up.

Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is considered certain. Current target is 1.329275 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance zone at 1.32823 could happen.
In the case of a trade, always set appropriate stop-loss settings.

Also there is a ‘Three Outside Up’ candlestick pattern is discovered. The chart shows ‘Three Outside Up’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).

1.32239 – 1.32823 – 1.33778 – 1.31586 – 1.33098 – 1.33517 —
1.32190 – 1.32177 —
49.866838204655 – 41.648435286442 —
– —
1.32239 – 1774929600

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