GBP/USD – 30M – BUYThe combination British Pound/US Dollar (GBP/USD) breaks through the bullish trendline upwards
A continuation of the bullish trend up to the next resistance level at 1.27705 is expected.
Caution: A possible counter-trend in the direction of the support level at 1.26296 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Three Outside Up’ candle pattern is found. The candles show ‘Three Outside Up’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.29253 |
| 2nd High | 1.28732 |
| Next High | 1.27705 |
| Current Price | 1.27605 |
| Next Low | 1.26296 |
| 2nd Low | 1.26171 |
| 3rd Low | 1.25663 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Up