GBP/USD – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend will continue. Target of the current trend is 1.34204128 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the resistance line at 1.33693 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Southern Doji’ candle pattern is found. The chart forms ‘Southern 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 probability of ‘Southern Doji’ heading up is 51% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.3483 |
| 2nd High | 1.34094 |
| Next High | 1.33693 |
| Current Price | 1.33531 |
| Next Low | 1.32731 |
| 2nd Low | 1.32178 |
| 3rd Low | 1.31792 |
1.3339 – 1.33693 – 1.34094 – 1.32731 – 1.32178 – 1.33606 —
1.33486 – 1.33601 —
63.418759081892 – 64.260891563485 —
– —
1.3339 – 1773698400
Trading Signals: FOREX – GBP – GBP/USD – USD – Southern Doji – – – – – – – – –