GBP/USD – 1H – BUYThe pair British Pound/US Dollar (GBP/USD) breaks through the bearish trendline upwards
The bullish trend up to the next resistance level at 1.25743 is expected.
Caution: A possible change in the direction of the support line at 1.25184 could happen.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three Outside Up’ chart pattern is found. The chart shows ‘Three Outside Up’. which is a positive 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 Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.26666 |
| 2nd High | 1.26136 |
| Next High | 1.25743 |
| Current Price | 1.25248 |
| Next Low | 1.25184 |
| 2nd Low | 1.25093 |
| 3rd Low | 1.24744 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Up