GBP/USD – 1H – BUY

The combination British Pound/US Dollar (GBP/USD) breaks through the bullish trendline up.

A continuation of the uptrend upwards to the next resistance level at 1.35810 is considered certain.

Caution: A possible change in the direction of the support level at 1.34639 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Resistance Level’ indicator signal is found. The indicator is ‘Resistance Level’. this is usually a bullish chart signal. The currency pair is likely to rise.

Correction of the major bearish trend broke through the Fibonacci 0.79-Level.Continuation of the current ascending trend is considered certain. Current target is 1.36165 at the Fibonacci level 1-Level. Caution: A possible change in the direction of the resistance line at 1.35810 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Northern Doji’ chart pattern is discovered. The chart forms ‘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 success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

1.35810 – 1.36165 – 1.35797 – 1.34639 – 1.34559 – 1.35241

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