GBP/USD – 1H – BUYThe currency pair British Pound/US Dollar (GBP/USD) moves from the bearish trendline up.
An ascending movement up to the next resistance line at 1.27873 is expected.
Caution: A possible reversal of the trend in the direction of the support level at 1.26296 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Three Outside Up’ chart pattern is detected. The chart forms ‘Three Outside Up’. which is a positive 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 Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.28109 |
| 2nd High | 1.27988 |
| Next High | 1.27873 |
| Current Price | 1.26639 |
| Next Low | 1.26296 |
| 2nd Low | 1.26171 |
| 3rd Low | 1.25246 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Up