GBP/USD – 30M – BUYThe combination British Pound/US Dollar (GBP/USD) breaks through the bearish trendline upwards
An ascending movement upwards to the next resistance level at 1.23768 is expected.
Caution: A possible trend reversal in the direction of the support line at could happen.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three White Soldiers’ candlestick pattern is existing. The chart forms ‘Three White Soldiers’. which is a positive chart scenario. The 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 | 1.25754 |
| 2nd High | 1.24938 |
| Next High | 1.23768 |
| Current Price | 1.22887 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three White Soldiers