GBP/USD – 30M – BUYThe combination British Pound/US Dollar (GBP/USD) breaks through the bullish trendline upwards
A continuation of the upward movement up to the next resistance level at 1.36712 will continue.
Caution: A possible reversal of the trend in the direction of the support line at 1.36235 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Northern Doji’ chart pattern is existing. 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 likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37522 |
| 2nd High | 1.36809 |
| Next High | 1.36712 |
| Current Price | 1.36478 |
| Next Low | 1.36235 |
| 2nd Low | 1.35937 |
| 3rd Low | 1.35366 |
1.36712 – 1.36194 – 1.35629 – 1.36235 – 1.35937 – 1.35366 — 50.489230921673 – 53.466714673642 — 16.227494205345 – 34.592010761212 – 7.0987476850497 – 17.780244765298
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji – – –