GBP/USD – 30M – BUYThe currency pair British Pound/US Dollar (GBP/USD) breaks through the descending trendline upwards
A bullish ascent up to the next resistance line at 1.37884 will continue.
Caution: A possible trend reversal in the direction of support at 1.37034 should be noted.
Consider stop-loss settings accordingly.
Besides a ‘Northern Doji’ chart pattern is discovered. The chart forms ‘Northern Doji’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.37884 |
| Current Price | 1.37518 |
| Next Low | 1.37034 |
| 2nd Low | 1.36739 |
| 3rd Low | 1.35903 |
1.37884 – 1.37488 – 1.37403 – 1.37034 – 1.36739 – 1.36827
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji –