GBP/USD – 1H – BUYThe combination British Pound/US Dollar (GBP/USD) breaks through the descending trendline upwards
A bullish movement up to the next resistance at 1.34896 is likely expected.
Caution: A possible reversal of the trend in the direction of the support level at 1.33838 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Support Level’ indicator layout is found. The indicator is ‘Support Level’. which could be a positive signal. The currency pair is likely to rise.
Next a ‘Northern Doji’ candle chart pattern is discovered. The chart shows ‘Northern Doji’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.3527 |
| 2nd High | 1.35097 |
| Next High | 1.34896 |
| Current Price | 1.34034 |
| Next Low | 1.33838 |
| 2nd Low | 1.33234 |
| 3rd Low | 1.32502 |
1.34896 – 1.34862 – 1.35097 – 1.33838 – 1.33917 – 1.3416 —
45.471149367289 – 47.552654294052 —
43.392935315392 – 58.286470136147 – 36.260193504086 – 45.313617636178
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji – – –