GBP/USD – 1H – BUYThe currency pair British Pound/US Dollar (GBP/USD) moves from the bullish trendline down.
The bearish trend downwards to the next support at is likely expected.
Caution: A possible change in the direction of resistance at 1.25401 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Southern Doji’ candle pattern is detected. The candles show ‘Southern Doji’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Southern Doji’ going up is 51% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.26073 |
| 2nd High | 1.25690 |
| Next High | 1.25401 |
| Current Price | 1.23740 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Southern Doji