GBP/USD – 1H – BUYThe currency pair British Pound/US Dollar (GBP/USD) jumps from the ascending trendline up.
A continuation of the upward movement upwards to the next resistance at 1.28109 is certain.
Caution: A possible change in the direction of the support line at 1.26296 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three White Soldiers’ candle pattern is existing. The candles form ‘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 | 1.30476 |
| 2nd High | 1.30091 |
| Next High | 1.28109 |
| Current Price | 1.27436 |
| Next Low | 1.26296 |
| 2nd Low | 1.26171 |
| 3rd Low | 1.25246 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three White Soldiers