GBP/USD – 1H – BUYThe combination British Pound/US Dollar (GBP/USD) breaks through the descending trendline upwards
A bullish movement upwards to the next resistance line at 1.27873 is certain.
Caution: A possible change in the direction of support at 1.26067 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend is certain. Current target is 1.27486516 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of the resistance zone at 1.27873 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Three White Soldiers’ candle chart pattern is existing. The chart forms ‘Three White Soldiers’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.28109 |
| 2nd High | 1.27988 |
| Next High | 1.27873 |
| Current Price | 1.27045 |
| Next Low | 1.26067 |
| 2nd Low | 1.25246 |
| 3rd Low | 1.25067 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three White Soldiers