GBP/USD – 1H – BUYThe currency pair British Pound/US Dollar (GBP/USD) breaks through the descending trendline upwards
An ascending movement upwards to the next resistance at 1.32823 is expected.
Caution: A possible counter-trend in the direction of the support zone at 1.32178 could be enabled.
Consider stop-loss settings accordingly.
And also a ‘Three Outside Up’ candle chart pattern is detected. The chart forms ‘Three Outside Up’. which is a positive pattern signal. The currency 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 | 1.34269 |
| 2nd High | 1.33778 |
| Next High | 1.32823 |
| Current Price | 1.32097 |
| Next Low | 1.32178 |
| 2nd Low | 1.31792 |
| 3rd Low | 1.31237 |
1.32823 – 1.33778 – 1.34269 – 1.33098 – 1.33517 – 1.32565 —
1.31916 – 1.31784 —
28.21375304621 – 23.60157423966 —
– —
1.32823 – 1774861200
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Up – – – – – – – – –