GBP/USD – 1H – BUYThe combination British Pound/US Dollar (GBP/USD) breaks through the bearish trendline up.
A bullish movement up to the next resistance at 1.34607 is certain.
Caution: A possible reversal of the trend in the direction of the support level at 1.33831 is within the realm of possibility.
Consider stop-loss settings accordingly.
Moreover a ‘Resistance Level’ indicator layout is existing. The indicator shows ‘Resistance Level’. which could be a positive signal. The pair is likely to go up.
Moreover a ‘Three Outside Up’ candlestick chart pattern is discovered. The chart forms ‘Three Outside Up’. this is a bullish 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 | 1.34812 |
| 2nd High | 1.34619 |
| Next High | 1.34607 |
| Current Price | 1.34338 |
| Next Low | 1.33831 |
| 2nd Low | 1.33242 |
| 3rd Low | 1.33056 |
1.34607 – 1.34326 – 1.34231 – 1.33831 – 1.33242 – 1.33495 —
1.34507 – 1.34309 —
64.204107633456 – 48.937760175152 —
– —
1.34607 – 1781492400
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Up – – – – – – – – –