GBP/USD – 4H – BUYThe combination British Pound/US Dollar (GBP/USD) breaks through the bearish trendline up.
A bullish movement up to the next resistance at 1.26073 is likely expected.
Caution: A possible trend reversal in the direction of the support level at 1.23521 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three White Soldiers’ candlestick pattern is discovered. The candles form ‘Three White Soldiers’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27873 |
| 2nd High | 1.27283 |
| Next High | 1.26073 |
| Current Price | 1.25609 |
| Next Low | 1.23521 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three White Soldiers