GBP/USD – 30M – BUYThe pair British Pound/US Dollar (GBP/USD) breaks through the bullish trendline upwards
A continuation of the upward movement up to the next resistance at 1.36712 is likely expected.
Caution: A possible trend reversal in the direction of the support level at 1.36293 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Northern Doji’ candle chart pattern is detected. The chart forms ‘Northern Doji’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability 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 | 1.36664 |
| Next Low | 1.36293 |
| 2nd Low | 1.36235 |
| 3rd Low | 1.35937 |
1.36712 – 1.36194 – 1.35629 – 1.36293 – 1.36235 – 1.35937 — 66.103452143813 – 68.828013085341 — 95.977294059804 – 95.977294059804 – 87.399398896403 – 91.80168503838
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji – – –