GBP/USD – 1H – BUYThe currency pair British Pound/US Dollar (GBP/USD) breaks through the ascending trendline up.
A continuation of the upward movement up to the next resistance at 1.27142 is certain.
Caution: A possible change in the direction of support at 1.26448 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is certain. Target of the current trend is 1.2694 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the resistance zone at 1.27142 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Three White Soldiers’ candle chart pattern is found. The candles show ‘Three White Soldiers’. which is a positive signal. The currency pair is likely to rise. 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 | 1.27686 |
| 2nd High | 1.27202 |
| Next High | 1.27142 |
| Current Price | 1.27021 |
| Next Low | 1.26448 |
| 2nd Low | 1.25246 |
| 3rd Low | 1.25067 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three White Soldiers