GBP/USD – 30M – BUYThe combination breaks through the descending trendline upwards
A bullish ascent up to the next resistance level at 1.29764 is considered certain.
Caution: A possible counter-trend in the direction of the support level at 1.28834 is within the realm of possibility.
Consider stop-loss settings accordingly.
Next a ‘Three White Soldiers’ candlestick pattern is detected. The chart forms ‘Three White Soldiers’. which is a bullish signal. The currency pair is likely to rise. 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 | 1.30476 |
| 2nd High | 1.30091 |
| Next High | 1.29764 |
| Current Price | 1.29140 |
| Next Low | 1.28834 |
| 2nd Low | 1.28689 |
| 3rd Low | 1.28338 |