GBP/USD – 1H – BUYThe combination British Pound/US Dollar (GBP/USD) breaks through the ascending trendline up.
A continuation of the upward movement up to the next resistance at 1.38686 is likely expected.
Caution: A possible reversal of the trend in the direction of the support level at 1.36635 could be enabled.
Consider stop-loss settings accordingly.
Moreover a ‘Three White Soldiers’ candle chart pattern is existing. The candles form ‘Three White Soldiers’. which is a bullish signal. The 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 | |
| 2nd High | |
| Next High | 1.38686 |
| Current Price | 1.38101 |
| Next Low | 1.36635 |
| 2nd Low | 1.36426 |
| 3rd Low | 1.34015 |
1.38686 – 1.37127 – 1.36817 – 1.36635 – 1.36426 – 1.34015 —
1.37938 – 1.37961 —
55.411760869082 – 54.285226276797 —
– —
1.38686 – 1769551200
Trading Signals: FOREX – GBP – GBP/USD – USD – Three White Soldiers – Double bottom chart pattern – – – – – – – –