GBP/USD – 30M – BUY

The combination British Pound/US Dollar (GBP/USD) breaks through the descending trendline up.

A bullish ascent up to the next resistance level at 1.3111 will persist.

Caution: A possible change in the direction of the support level at 1.308 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will persist. Target of the current trend is 1.31231 at the Fibonacci level 0-Level. Caution: A possible change in the direction of resistance at 1.3111 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Northern Doji’ candle pattern is detected. The candles show ‘Northern Doji’. this is a bullish signal. The currency pair is likely to go up. 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).

1.3111 – 1.31088 – 1.3102 – 1.308 – 1.30872 – 1.30848 —
1.31052 – 1.31072 —
54.298027214632 – 53.412582743443 —
– —
1.31110 – 1763971200

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