GBP/USD – 30M – BUYThe currency pair British Pound/US Dollar (GBP/USD) breaks through the descending trendline upwards
A bullish ascent upwards to the next resistance at 1.25501 will continue.
Caution: A possible counter-trend in the direction of the support level at 1.25010 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend will continue. Target of the current trend is 1.253765 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the resistance line at 1.25501 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three White Soldiers’ candlestick chart pattern is detected. The chart shows ‘Three White Soldiers’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.25878 |
| 2nd High | 1.25743 |
| Next High | 1.25501 |
| Current Price | 1.25482 |
| Next Low | 1.25010 |
| 2nd Low | 1.24744 |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three White Soldiers