GBP/USD – 30M – BUY

The currency pair British Pound/US Dollar (GBP/USD) breaks through the bearish trendline up.

A bullish ascent up to the next resistance line at 1.37523 will continue.

Caution: A possible change in the direction of support at 1.36827 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is detected. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a positive chart scenario. The pair is likely to go up.

Moreover a ‘Support Level’ indicator signal is found. The indicator is ‘Support Level’. which could be a positive chart signal. The pair is likely to go up.

Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will continue. Current target is 1.37703 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the resistance zone at 1.37523 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Northern Doji’ candlestick chart pattern is existing. The chart forms ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

1.37523 – 1.37703 – 1.37647 – 1.36827 – 1.37199 – 1.37162

Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji –