GBP/USD – 1H – BUYThe combination British Pound/US Dollar (GBP/USD) breaks through the descending trendline upwards
A bullish ascent up to the next resistance level at 1.33864 is expected.
Caution: A possible counter-trend in the direction of the support zone at 1.32971 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three White Soldiers’ candlestick pattern is detected. The chart forms ‘Three White Soldiers’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.34316 |
| 2nd High | 1.34027 |
| Next High | 1.33864 |
| Current Price | 1.33715 |
| Next Low | 1.32971 |
| 2nd Low | 1.32528 |
| 3rd Low | 1.31792 |
1.33864 – 1.34027 – 1.33696 – 1.32971 – 1.33056 – 1.32528 —
1.33396 – 1.33712 —
45.265920381535 – 56.082297599349 —
– —
1.33864 – 1772679600
Trading Signals: FOREX – GBP – GBP/USD – USD – Three White Soldiers – – – – – – – – –