GBP/USD – 1H – BUY

The combination British Pound/US Dollar (GBP/USD) moves from the ascending trendline up.

A continuation of the upward movement up to the next resistance level at 1.35810 is considered certain.

Caution: A possible trend reversal in the direction of the support line at 1.34559 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is detected. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bullish chart scenario. The currency pair is likely to rise.

Moreover a ‘Support Level’ indicator signal is found. The indicator is ‘Support Level’. this is usually a bullish chart signal. The pair is likely to go up.

Correction of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend is considered certain. Current target is 1.35821316 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the resistance zone at 1.35810 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Northern Doji’ chart pattern is found. The chart forms ‘Northern Doji’. this is a bullish signal. The currency pair is likely to rise. 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).

1.35810 – 1.36165 – 1.35797 – 1.34559 – 1.35241 – 1.35071

Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji