GBP/USD – 30M – BUYThe pair British Pound/US Dollar (GBP/USD) breaks through the bearish trendline up.
A bullish ascent up to the next resistance level at 1.25501 is likely expected.
Caution: A possible reversal of the trend in the direction of the support line at 1.25184 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Three White Soldiers’ candlestick chart pattern is found. The candles form ‘Three White Soldiers’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.25878 |
| 2nd High | 1.25743 |
| Next High | 1.25501 |
| Current Price | 1.25323 |
| Next Low | 1.25184 |
| 2nd Low | 1.25093 |
| 3rd Low | 1.24744 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three White Soldiers