GBP/USD – 30M – BUYThe pair British Pound/US Dollar (GBP/USD) breaks through the ascending trendline upwards
A continuation of the uptrend upwards to the next resistance line at 1.29336 is likely expected.
Caution: A possible reversal of the trend in the direction of the support level at 1.27428 is also possible.
Consider stop-loss settings accordingly.
Besides a ‘Northern Doji’ candlestick pattern is found. The chart forms ‘Northern Doji’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.32072 |
| 2nd High | 1.31133 |
| Next High | 1.29336 |
| Current Price | 1.29903 |
| Next Low | 1.27428 |
| 2nd Low | 1.27243 |
| 3rd Low | 1.27079 |
1.28637 – 1.28146 – 1.27956 – 1.27428 – 1.27509 – 1.27243
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji