GBP/USD – 1H – BUYThe combination British Pound/US Dollar (GBP/USD) goes from the ascending trendline upwards
A continuation of the bullish trend upwards to the next resistance level at 1.25925 is considered certain.
Caution: A possible reversal of the trend in the direction of the support level at 1.25045 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 1.25573 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the resistance level at 1.25925 could occur.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Three White Soldiers’ candle chart pattern is existing. The chart shows ‘Three White Soldiers’. which is a bullish pattern 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’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.26666 |
| 2nd High | 1.26136 |
| Next High | 1.25925 |
| Current Price | 1.25544 |
| Next Low | 1.25045 |
| 2nd Low | 1.25010 |
| 3rd Low | 1.24744 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three White Soldiers