GBP/USD – 1H – BUYCorrection of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend will persist. Target of the current trend is 1.27637 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of resistance at 1.27813 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Three White Soldiers’ chart pattern is discovered. The candles show ‘Three White Soldiers’. this is a bullish 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’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.28109 |
| 2nd High | 1.27988 |
| Next High | 1.27813 |
| Current Price | 1.27700 |
| Next Low | 1.27235 |
| 2nd Low | 1.27165 |
| 3rd Low | 1.26296 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three White Soldiers