GBP/USD – 30M – BUYCorrection of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Target of the current trend is 1.268345 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance level at 1.27222 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three White Soldiers’ candlestick chart pattern is detected. The candles show ‘Three White Soldiers’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27498 |
| 2nd High | 1.27459 |
| Next High | 1.27222 |
| Current Price | 1.26640 |
| Next Low | 1.26171 |
| 2nd Low | 1.25663 |
| 3rd Low | 1.25246 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three White Soldiers