GBP/USD – 4H – BUYThe pair British Pound/US Dollar (GBP/USD) breaks through the descending trendline up.
A bullish movement up to the next resistance line at 1.35493 is considered certain.
Caution: A possible trend reversal in the direction of the support level at 1.34162 should always be considered.
Consider stop-loss settings accordingly.
There is also a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is detected. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which is often a bullish chart signal. The pair is likely to go up.
There is also a ‘Support Level’ indicator signal is discovered. The indicator is ‘Support Level’. this is usually a bullish chart signal. The pair is likely to go up.
There is also a ‘Northern Doji’ candlestick pattern is found. The chart forms ‘Northern Doji’. which is a bullish chart scenario. 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 | 1.37884 |
| 2nd High | 1.36809 |
| Next High | 1.35493 |
| Current Price | 1.35311 |
| Next Low | 1.34162 |
| 2nd Low | 1.33899 |
| 3rd Low | 1.33699 |
1.35493 – 1.35437 – 1.36809 – 1.34162 – 1.33899 – 1.35204 — 53.37927523367 – 55.640738216353 — 0.39310134817153 – 4.9095607235142 – 23.529502504926 – 8.0027514787
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji – – –