GBP/USD – 1H – BUYThe currency pair British Pound/US Dollar (GBP/USD) breaks through the bearish trendline up.
A bullish trend up to the next resistance level at 1.34579 is expected.
Caution: A possible change in the direction of the support level at 1.34162 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Northern Doji’ candlestick chart pattern is existing. The chart shows ‘Northern Doji’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.35437 |
| 2nd High | 1.35302 |
| Next High | 1.34579 |
| Current Price | 1.34532 |
| Next Low | 1.34162 |
| 2nd Low | 1.33899 |
| 3rd Low | 1.33699 |
1.34579 – 1.35302 – 1.34926 – 1.34826 – 1.34162 – 1.3434 — 61.317204043962 – 61.645814295894 — 100 – 100 – 90.380985606813 – 98.252958698978
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji – – –