GBP/USD – 30M – BUYFurthermore a ‘Falling Wedge Chart Pattern’ chart formation is discovered. The chart shows ‘Falling Wedge Chart Pattern’. which is a bullish signal. The currency pair is likely to go up.
The currency pair British Pound/US Dollar (GBP/USD) breaks through the descending trendline upwards
An ascent upwards to the next resistance at 1.35097 is likely expected.
Caution: A possible reversal of the trend in the direction of support at 1.34639 is within the realm of possibility.
Consider stop-loss settings accordingly.
Furthermore a ‘Support Level’ indicator signal is detected. The indicator is ‘Support Level’. this is usually a bullish chart signal. The currency pair is likely to rise.
Furthermore a ‘Northern Doji’ candlestick pattern is detected. The chart shows ‘Northern Doji’. this is a bullish signal. The currency 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 | 1.35655 |
| 2nd High | 1.35364 |
| Next High | 1.35097 |
| Current Price | 1.34986 |
| 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