GBP/USD – 1H – SELLThe pair British Pound/US Dollar (GBP/USD) jumps from the ascending trendline down.
A descending movement down to the next support at 1.34639 will continue.
Caution: A possible change in the direction of the resistance line at 1.35810 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Northern Doji’ candle chart pattern is discovered. The candles show ‘Northern Doji’. this is a bullish signal. The pair is likely to go up. 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 | |
| 2nd High | 1.36165 |
| Next High | 1.35810 |
| Current Price | 1.35632 |
| Next Low | 1.34639 |
| 2nd Low | 1.34559 |
| 3rd Low | 1.34475 |
1.35810 – 1.36165 – 1.35797 – 1.34639 – 1.34559 – 1.35241
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji