GBP/USD – 1H – BUYThe currency pair British Pound/US Dollar (GBP/USD) breaks through the bullish trendline upwards
A continuation of the bullish trend up to the next resistance at 1.34523 will continue.
Caution: A possible reversal of the trend in the direction of the support level at 1.33906 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Northern Doji’ candle chart pattern is detected. The chart shows ‘Northern Doji’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.34686 |
| Next High | 1.34523 |
| Current Price | 1.35274 |
| Next Low | 1.33906 |
| 2nd Low | 1.33882 |
| 3rd Low | 1.33344 |
1.34523 – 1.34686 – 1.33944 – 1.33906 – 1.33882 – 1.33344
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji