GBP/USD – 30M – BUYThe currency pair British Pound/US Dollar (GBP/USD) breaks through the descending trendline up.
A bullish trend upwards to the next resistance line at 1.26573 is expected.
Caution: A possible reversal of the trend in the direction of the support zone at 1.24870 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Three White Soldiers’ chart pattern is detected. The candles form ‘Three White Soldiers’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27142 |
| 2nd High | 1.26595 |
| Next High | 1.26573 |
| Current Price | 1.26004 |
| Next Low | 1.24870 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three White Soldiers