GBP/USD – 1H – BUYThe currency pair British Pound/US Dollar (GBP/USD) breaks through the bearish trendline upwards
A bullish movement up to the next resistance line at 1.27211 will persist.
Caution: A possible change in the direction of the support level at 1.26296 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three Line Strike – Bullish’ candlestick pattern is detected. The chart forms ‘Three Line Strike – Bullish’. 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 probability of ‘Three Line Strike – Bullish’ going up is 83% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27459 |
| 2nd High | 1.27222 |
| Next High | 1.27211 |
| Current Price | 1.27319 |
| Next Low | 1.26296 |
| 2nd Low | 1.26171 |
| 3rd Low | 1.25246 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Line Strike – Bullish