GBP/USD – 30M – BUYThe combination British Pound/US Dollar (GBP/USD) breaks through the bullish trendline upwards
A continuation of the bullish trend upwards to the next resistance line at 1.26979 is considered certain.
Caution: A possible trend reversal in the direction of the support line at 1.26660 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Three Outside Up’ candlestick chart pattern is existing. The chart shows ‘Three Outside Up’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27873 |
| 2nd High | 1.26984 |
| Next High | 1.26979 |
| Current Price | 1.27188 |
| Next Low | 1.26660 |
| 2nd Low | 1.26354 |
| 3rd Low | 1.26067 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Up