GBP/USD – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is expected. Target of the current trend is 1.29630912 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of resistance at 1.29679 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is found. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. this is usually a bullish chart signal. The currency pair could go up.
And also a ‘Northern Doji’ candle pattern is discovered. The candles show ‘Northern Doji’. which is a positive signal. 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 | 1.30146 |
| 2nd High | 1.29916 |
| Next High | 1.29679 |
| Current Price | 1.29593 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.29679 – 1.29916 – 1.29669 – 1.29222 – 1.28708 – 1.29016
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji