GBP/USD – 4H – BUYThe currency pair British Pound/US Dollar (GBP/USD) jumps from the bullish trendline upwards
A continuation of the uptrend up to the next resistance line at 1.35493 is expected.
Caution: A possible reversal of the trend in the direction of the support level at 1.34162 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Support Level’ indicator layout is detected. The indicator is ‘Support Level’. which could be a positive chart signal. The currency pair could go up.
Moreover a ‘Northern Doji’ candlestick pattern is detected. The chart shows ‘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 | 1.37884 |
| 2nd High | 1.36809 |
| Next High | 1.35493 |
| Current Price | 1.34329 |
| Next Low | 1.34162 |
| 2nd Low | 1.33899 |
| 3rd Low | 1.33699 |
1.35493 – 1.35437 – 1.36809 – 1.34162 – 1.33899 – 1.35204 — 44.294398620455 – 45.979082220379 — 35.98688536403 – 48.092703182281 – 27.76561791613 – 36.717678036888
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji – Double bottom retreat down – –