GBP/USD – 1H – BUYThe currency pair British Pound/US Dollar (GBP/USD) jumps from the descending trendline up.
A bullish movement up to the next resistance at 1.27873 will continue.
Caution: A possible reversal of the trend in the direction of the support level at 1.26171 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Three White Soldiers’ candlestick pattern is detected. The chart shows ‘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 likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.28109 |
| 2nd High | 1.27988 |
| Next High | 1.27873 |
| Current Price | 1.26645 |
| Next Low | 1.26171 |
| 2nd Low | 1.25246 |
| 3rd Low | 1.25067 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three White Soldiers