GBP/USD – 30M – BUYThe pair British Pound/US Dollar (GBP/USD) moves from the bullish trendline up.
A continuation of the bullish trend up to the next resistance at 1.26979 will persist.
Caution: A possible reversal of the trend in the direction of the support level at 1.26733 should be noted.
Consider stop-loss settings accordingly.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will persist. Target of the current trend is 1.26984 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 1.26979 should be noted.
Consider stop-loss settings accordingly.
There is also a ‘Three Line Strike – Bullish’ candle pattern is detected. The chart shows ‘Three Line Strike – Bullish’. which is a bullish chart scenario. 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 Line Strike – Bullish’ going up is 83% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27873 |
| 2nd High | 1.26984 |
| Next High | 1.26979 |
| Current Price | 1.26938 |
| Next Low | 1.26733 |
| 2nd Low | 1.26354 |
| 3rd Low | 1.26067 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Line Strike – Bullish