GBP/USD – 1H – BUYThe currency pair British Pound/US Dollar (GBP/USD) breaks through the bearish trendline upwards
A bullish ascent upwards to the next resistance line at 1.33246 will continue.
Caution: A possible change in the direction of the support level at 1.31779 could happen.
Consider stop-loss settings accordingly.
Moreover a ‘Three Outside Up’ candle chart pattern is existing. The candles form ‘Three Outside Up’. this is a bullish signal. The currency pair is likely to rise. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.34426 |
| 2nd High | 1.34336 |
| Next High | 1.33246 |
| Current Price | 1.32340 |
| Next Low | 1.31779 |
| 2nd Low | 1.31586 |
| 3rd Low | 1.31237 |
1.33246 – 1.34336 – 1.34426 – 1.32618 – 1.33902 – 1.33831 —
1.32108 – 1.32076 —
32.866133032306 – 38.268466433354 —
– —
1.33246 – 1781773200
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Up – – – – – – – – –