Is the GBP/USD Chart about to Break Out?

GBP/USD - inside bar pin bar combo on sterling/dollar could lead to higher prices

The GBP/USD has shown obvious strength on the daily chart over the last month, pushing up through 1.2335 and then holding above that level on subsequent re-tests. Over the last few weeks, the daily chart has remained buoyant and shown resilience after each attempt by sellers to push prices lower.

On the daily time-frame chart, we can now see an inside pin bar combo signal (an inside bar pattern where the inside bar is also a pin) and it’s logical to assume price could move higher from this pattern, perhaps significantly so. A trade entry on the long side could Yield Yield A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a Read this Term a 2 to 1 risk reward, potentially higher if the market follows through to the upside, with resistance not seen until 1.2850 area. As always, trade at your own risk.

This article was written byNial Fuller. Nial is a highly regarded professional trader and author. He is the founder of Learn To Trade The Market, the worlds foremost trading education resource. To learn more, visit www.LearnToTradeTheMarket.com