GBP/USD – 30M – BUYThe currency pair British Pound/US Dollar (GBP/USD) breaks through the bullish trendline upwards
A continuation of the uptrend upwards to the next resistance at 1.27142 is expected.
Caution: A possible trend reversal in the direction of the support line at 1.26794 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Three White Soldiers’ candlestick chart pattern is discovered. The candles form ‘Three White Soldiers’. this 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 success rate of a ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27686 |
| 2nd High | 1.27202 |
| Next High | 1.27142 |
| Current Price | 1.27419 |
| Next Low | 1.26794 |
| 2nd Low | 1.26448 |
| 3rd Low | 1.25663 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three White Soldiers