GBP/USD – 30M – BUYCorrection of the major bearish trend broke through the Fibonacci 0.79-Level.Continuation of the current ascending trend is certain. Current target is 1.3581 at the Fibonacci level 1-Level. Caution: A possible change in the direction of the resistance line at 1.35655 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Northern Doji’ chart pattern is discovered. The candles show ‘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 chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.35843 |
| 2nd High | 1.35810 |
| Next High | 1.35655 |
| Current Price | 1.35623 |
| Next Low | 1.34639 |
| 2nd Low | 1.34559 |
| 3rd Low | 1.34516 |
1.35097 – 1.35364 – 1.35655 – 1.34639 – 1.34898 – 1.34559
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji