GBP/USD – 4H – BUYCorrection of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend will continue. Current target is 1.35125946 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the resistance level at 1.34944 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Northern Doji’ chart pattern is detected. The candles show ‘Northern Doji’. which is a bullish chart scenario. The currency 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 | |
| 2nd High | 1.35674 |
| Next High | 1.34944 |
| Current Price | 1.34398 |
| Next Low | 1.33893 |
| 2nd Low | 1.33113 |
| 3rd Low | 1.32871 |
1.34944 – 1.35674 – 1.35302 – 1.33893 – 1.34013 – 1.33113 —
1.34944 – 1.34637 —
54.980940366984 – 44.778256787645 —
1.34944 – 1768305600 —
– 1768305600
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji – – – – – – – – –