GBP/USD – 1H – BUY

The currency pair British Pound/US Dollar (GBP/USD) jumps from the bearish trendline up.

An ascent upwards to the next resistance level at 1.35307 is expected.

Caution: A possible reversal of the trend in the direction of the support line at 1.34866 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Support Level’ indicator signal is discovered. The indicator shows ‘Support Level’. which is often a bullish chart scenario. The pair is likely to go up.

Correction of the major bearish trend broke the Fibonacci 0-Level.Continuation of the current ascending trend is expected. Target of the current trend is 1.35120172 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of resistance at 1.35307 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Northern Doji’ candle pattern is found. The candles form ‘Northern Doji’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

1.35307 – 1.35645 – 1.35747 – 1.34866 – 1.35204 – 1.35595 — 35.369767188132 – 37.274093186105 — 7.0864635057709 – 15.451851183223 – 4.5486199496831 – 7.7767679709156

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