GBP/USD – 4H – BUYThe currency pair British Pound/US Dollar (GBP/USD) breaks through the descending trendline upwards
An ascent upwards to the next resistance line at 1.35493 will continue.
Caution: A possible reversal of the trend in the direction of support at 1.34162 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Northern Doji’ candle chart pattern is found. The chart shows ‘Northern Doji’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37884 |
| 2nd High | 1.36809 |
| Next High | 1.35493 |
| Current Price | 1.35297 |
| Next Low | 1.34162 |
| 2nd Low | 1.33899 |
| 3rd Low | 1.33699 |
1.35493 – 1.35437 – 1.36809 – 1.34162 – 1.33899 – 1.35204 — 59.276559346394 – 62.335499457481 — 67.985876897133 – 78.627388982574 – 71.267214727375 – 71.111462432078
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji – – –