GBP/USD – 1H – BUYThe currency pair British Pound/US Dollar (GBP/USD) breaks through the bullish trendline up.
A continuation of the upward movement up to the next resistance at 1.37522 is considered certain.
Caution: A possible counter-trend in the direction of the support zone at 1.36635 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three Outside Up’ candle pattern is detected. The candles form ‘Three Outside Up’. 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 likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.37884 |
| Next High | 1.37522 |
| Current Price | 1.37871 |
| Next Low | 1.36635 |
| 2nd Low | 1.36426 |
| 3rd Low | 1.34015 |
1.37127 – 1.36817 – 1.34589 – 1.36635 – 1.36426 – 1.34015 —
1.36769 – 1.37907 —
53.945993744857 – 68.94573164658 —
1.36635 – 1769508000 —
1.37127 – 1769450400
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Up – – – – – – – – –