GBP/USD – 1H – BUYThe combination British Pound/US Dollar (GBP/USD) breaks through the ascending trendline up.
A continuation of the upward movement up to the next resistance at 1.35898 is expected.
Caution: A possible counter-trend in the direction of the support level at 1.35126 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Northern Doji’ candlestick chart pattern is detected. The chart shows ‘Northern Doji’. which is a bullish pattern signal. The pair is likely to go up. 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 | 1.36809 |
| 2nd High | 1.35943 |
| Next High | 1.35898 |
| Current Price | 1.35779 |
| Next Low | 1.35126 |
| 2nd Low | 1.34826 |
| 3rd Low | 1.34162 |
1.35629 – 1.35898 – 1.3556 – 1.35126 – 1.34826 – 1.34162 — 63.709551727663 – 65.575529049487 — 89.60033365974 – 88.634715119864 – 91.625563655267 – 90.425718396015
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji – – –