GBP/USD – 30M – BUYCorrection of the major bearish trend broke the Fibonacci 0-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 1.26588716 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the resistance zone at 1.27873 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three Inside Up’ candle pattern is discovered. The chart shows ‘Three Inside Up’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Inside Up’ heading up is 65% (Bull Market) & 63% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.28109 |
| 2nd High | 1.27988 |
| Next High | 1.27873 |
| Current Price | 1.26264 |
| Next Low | 1.26192 |
| 2nd Low | 1.26171 |
| 3rd Low | 1.25663 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Inside Up