GBP/USD – 30M – BUYCorrection of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend will continue. Current target is 1.27906984 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of the resistance line at 1.28109 should be noted.
Consider stop-loss settings accordingly.
Moreover a ‘Three Outside Up’ candle pattern is found. The candles form ‘Three Outside Up’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.29253 |
| 2nd High | 1.28732 |
| Next High | 1.28109 |
| Current Price | 1.27780 |
| Next Low | 1.27165 |
| 2nd Low | 1.26296 |
| 3rd Low | 1.26171 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Up