GBP/USD – 4H – BUY

The pair British Pound/US Dollar (GBP/USD) breaks through the descending trendline upwards

A bullish ascent upwards to the next resistance level at 1.34828 will persist.

Caution: A possible trend reversal in the direction of the support zone at 1.33056 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is detected. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a positive chart signal. The currency pair could go up.

Furthermore a ‘Support Level’ indicator layout is existing. The indicator is ‘Support Level’. this is usually a bullish chart signal. The pair is likely to go up.

Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend will persist. Current target is 1.34607684 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of resistance at 1.34828 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Northern Doji’ candlestick chart pattern is found. The candles show ‘Northern Doji’. which is a bullish 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’ heading up is 52% (Bull Market) & 51% (Bear Market).

1.34828 – 1.3485 – 1.35087 – 1.33056 – 1.34094 – 1.34063 —
1.33911 – 1.34254 —
44.027104234634 – 51.566473177498 —
– —
1.34828 – 1780660800

Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji – – – – – – – – –