GBP/USD – 1H – BUYThe currency pair British Pound/US Dollar (GBP/USD) breaks through the bearish trendline up.
A bullish movement up to the next resistance level at 1.31088 will continue.
Caution: A possible change in the direction of the support zone at 1.30382 should always be considered.
Consider stop-loss settings accordingly.
Furthermore a ‘Northern Doji’ candle chart pattern is detected. The chart shows ‘Northern Doji’. this is a bullish pattern signal. 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 | 1.3176 |
| 2nd High | 1.31231 |
| Next High | 1.31088 |
| Current Price | 1.31016 |
| Next Low | 1.30382 |
| 2nd Low | 1.3037 |
| 3rd Low | 1.30096 |
1.31088 – 1.31231 – 1.3176 – 1.30382 – 1.3037 – 1.31332 —
1.31045 – 1.31013 —
57.531126995726 – 54.255869957867 —
– —
1.31088 – 1763758800
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji – – – – – – – – –