GBP/USD – 1H – BUYThe combination British Pound/US Dollar (GBP/USD) goes from the bullish trendline down.
A bearish movement down to the next support line at 1.24744 is certain.
Caution: A possible counter-trend in the direction of the resistance line at 1.26136 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three Outside Up’ candle chart pattern is found. The candles show ‘Three Outside Up’. which is a bullish 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 | 1.27253 |
| 2nd High | 1.26666 |
| Next High | 1.26136 |
| Current Price | 1.25370 |
| Next Low | 1.24744 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Up