GBP/USD – 1H – BUYCorrection of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is certain. Current target is 1.26746 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the resistance level at 1.27253 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Three White Soldiers’ candlestick chart pattern is detected. The candles show ‘Three White Soldiers’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27873 |
| 2nd High | 1.27283 |
| Next High | 1.27253 |
| Current Price | 1.26603 |
| Next Low | 1.25619 |
| 2nd Low | 1.25246 |
| 3rd Low | 1.25067 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three White Soldiers