GBP/USD – 1H – BUYThe combination British Pound/US Dollar (GBP/USD) breaks through the descending trendline up.
A bullish trend upwards to the next resistance level at 1.32823 is considered certain.
Caution: A possible change in the direction of the support zone at 1.32178 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Bullish Tri-Star’ chart pattern is existing. The chart shows ‘Bullish Tri-Star’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Tri-Star’ heading up is 60% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.34269 |
| 2nd High | 1.33778 |
| Next High | 1.32823 |
| Current Price | 1.32117 |
| Next Low | 1.32178 |
| 2nd Low | 1.31792 |
| 3rd Low | 1.31237 |
1.32823 – 1.33778 – 1.34269 – 1.33098 – 1.33517 – 1.32565 —
1.31784 – 1.32085 —
23.601574149222 – 46.048471705857 —
– —
1.32823 – 1774861200
Trading Signals: FOREX – GBP – GBP/USD – USD – Bullish Tri-Star – – – – – – – – –