GBP/USD – 30M – BUYThe currency pair British Pound/US Dollar (GBP/USD) breaks through the descending trendline upwards
The bullish trend upwards to the next resistance level at 1.36961 is considered certain.
Caution: A possible reversal of the trend in the direction of the support level at 1.36309 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Northern Doji’ candlestick chart pattern is detected. The candles form ‘Northern Doji’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37327 |
| 2nd High | 1.37 |
| Next High | 1.36961 |
| Current Price | 1.36926 |
| Next Low | 1.36309 |
| 2nd Low | 1.3586 |
| 3rd Low | 1.35081 |
1.36961 – 1.37 – 1.36285 – 1.36309 – 1.36717 – 1.3586 —
1.36662 – 1.36824 —
54.102696800441 – 66.164958654087 —
– —
1.36961 – 1770741000
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji – – – – – – – – –