GBP/USD – 30M – BUYThe pair British Pound/US Dollar (GBP/USD) breaks through the bearish trendline up.
A bullish trend upwards to the next resistance line at 1.26132 is certain.
Caution: A possible trend reversal in the direction of the support zone at 1.25067 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend is certain. Target of the current trend is 1.2622585 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of resistance at 1.26132 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three White Soldiers’ chart pattern is existing. The chart shows ‘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 success rate of a ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.26595 |
| 2nd High | 1.26573 |
| Next High | 1.26132 |
| Current Price | 1.25886 |
| Next Low | 1.25067 |
| 2nd Low | 1.24870 |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three White Soldiers