GBP/USD – 30M – BUYAdditionally a ‘Double top retreat up’ chart pattern is existing. The formation shows ‘Double top retreat up’. which is a bullish signal. The currency pair is likely to go up.
Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend will persist. Current target is 1.373115 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the resistance zone at 1.37522 could occur.
Consider stop-loss settings accordingly.
Additionally a ‘Northern Doji’ candlestick chart pattern is found. The candles show ‘Northern Doji’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.37884 |
| Next High | 1.37522 |
| Current Price | 1.37047 |
| Next Low | 1.37034 |
| 2nd Low | 1.36739 |
| 3rd Low | 1.35903 |
1.37522 – 1.37884 – 1.37488 – 1.37034 – 1.36739 – 1.36827
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji – Double top retreat up