GBP/USD – 1H – BUYThe currency pair British Pound/US Dollar (GBP/USD) breaks through the bullish trendline upwards
A continuation of the upward movement upwards to the next resistance level at 1.37703 is likely expected.
Caution: A possible counter-trend in the direction of the support level at 1.35903 could occur.
Consider stop-loss settings accordingly.
Also there is a ‘Northern Doji’ candlestick pattern is detected. The candles form ‘Northern Doji’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.37703 |
| Current Price | 1.37480 |
| Next Low | 1.35903 |
| 2nd Low | 1.33699 |
| 3rd Low | 1.33344 |
1.37703 – 1.36481 – 1.35108 – 1.35903 – 1.33699 – 1.33889
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji –