GBP/USD – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will persist. Target of the current trend is 1.34433 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of resistance at 1.34205 is within the realm of possibility.
Consider stop-loss settings accordingly.
There is also a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is detected. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish signal. The pair is likely to go up.
There is also a ‘Northern Doji’ candle chart pattern is existing. The chart shows ‘Northern Doji’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.34433 |
| 2nd High | 1.34256 |
| Next High | 1.34205 |
| Current Price | 1.34084 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.34205 – 1.34256 – 1.34433 – 1.33800 – 1.33937 – 1.32797
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji