GBP/USD – 30M – BUYThe currency pair British Pound/US Dollar (GBP/USD) breaks through the bearish trendline up.
An ascending movement up to the next resistance level at 1.27612 is considered certain.
Caution: A possible reversal of the trend in the direction of the support level at 1.27394 could happen.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Line Strike – Bullish’ chart pattern is found. The candles form ‘Three Line Strike – Bullish’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Line Strike – Bullish’ heading up is 83% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.28732 |
| 2nd High | 1.27705 |
| Next High | 1.27612 |
| Current Price | 1.27621 |
| Next Low | 1.27394 |
| 2nd Low | 1.27315 |
| 3rd Low | 1.26296 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Line Strike – Bullish