GBP/USD – 30M – BUYThe combination British Pound/US Dollar (GBP/USD) breaks through the bearish trendline up.
The bullish trend up to the next resistance level at 1.35179 will persist.
Caution: A possible trend reversal in the direction of the support line at 1.34162 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is found. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish chart signal. The currency pair is likely to rise.
Additionally a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. this is usually a bullish chart scenario. The currency pair could go up.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will persist. Target of the current trend is 1.35179 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of resistance at 1.35179 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Northern Doji’ candle chart pattern is discovered. 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’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.35267 |
| 2nd High | 1.35203 |
| Next High | 1.35179 |
| Current Price | 1.35033 |
| Next Low | 1.34162 |
| 2nd Low | 1.33899 |
| 3rd Low | 1.33699 |
1.35179 – 1.35014 – 1.34926 – 1.34162 – 1.34676 – 1.34340 — 50.905976596718 – 54.580048454811 — 15.862103181968 – 25.560703218483 – 8.5933304052642 – 15.460583472454
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji – – –