GBP/USD – 1H – BUYThe combination British Pound/US Dollar (GBP/USD) breaks through the descending trendline upwards
A bullish ascent up to the next resistance level at 1.26595 is expected.
Caution: A possible trend reversal in the direction of the support zone at 1.26305 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three White Soldiers’ candle chart pattern is existing. The chart shows ‘Three White Soldiers’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27202 |
| 2nd High | 1.27142 |
| Next High | 1.26595 |
| Current Price | 1.26472 |
| Next Low | 1.26305 |
| 2nd Low | 1.26132 |
| 3rd Low | 1.25975 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three White Soldiers