GBP/USD – 30M – BUYThe currency pair British Pound/US Dollar (GBP/USD) breaks through the descending trendline up.
The bullish trend upwards to the next resistance level at 1.33360 is certain.
Caution: A possible reversal of the trend in the direction of the support level at 1.32751 could be enabled.
Consider stop-loss settings accordingly.
There is also a ‘Northern Doji’ candle pattern is detected. The candles show ‘Northern Doji’. this is a bullish pattern signal. The currency 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).
There is also a ‘Double top chart pattern’ chart formation is existing. The formation shows ‘Double top chart pattern’. which is a negative pattern signal. The pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.34141 |
| 2nd High | 1.33451 |
| Next High | 1.33360 |
| Current Price | 1.32939 |
| Next Low | 1.32751 |
| 2nd Low | 1.32551 |
| 3rd Low | 1.32471 |
1.33360 – 1.33304 – 1.33215 – 1.32751 – 1.32551 – 1.32591
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji