GBP/USD – 1H – BUYThe pair British Pound/US Dollar (GBP/USD) breaks through the bullish trendline upwards
A continuation of the uptrend up to the next resistance level at 1.27705 is expected.
Caution: A possible trend reversal in the direction of the support line at 1.26296 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Three Outside Up’ candle pattern is found. The chart forms ‘Three Outside Up’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.30476 |
| 2nd High | 1.30091 |
| Next High | 1.27705 |
| Current Price | 1.27699 |
| Next Low | 1.26296 |
| 2nd Low | 1.26171 |
| 3rd Low | 1.25246 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Up