GBP/USD – 30M – BUYThe combination British Pound/US Dollar (GBP/USD) breaks through the bullish trendline upwards
A continuation of the upward movement up to the next resistance line at 1.31133 is expected.
Caution: A possible counter-trend in the direction of the support line at 1.27428 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is expected. Target of the current trend is 1.30472 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the resistance level at 1.31133 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Northern Doji’ chart pattern is discovered. 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 success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
Additionally a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. which is often a bullish chart signal. The currency pair is likely to rise.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.32072 |
| Next High | 1.31133 |
| Current Price | 1.30846 |
| Next Low | 1.27428 |
| 2nd Low | 1.27243 |
| 3rd Low | 1.27079 |
1.30472 – 1.28637 – 1.28146 – 1.27428 – 1.27509 – 1.27243
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji