GBP/USD – 30M – BUYThe pair British Pound/US Dollar (GBP/USD) breaks through the ascending trendline up.
A continuation of the uptrend up to the next resistance level at 1.31973 will continue.
Caution: A possible counter-trend in the direction of the support level at 1.31237 should always be considered.
Consider stop-loss settings accordingly.
Also there is a ‘Northern Doji’ candlestick chart pattern is discovered. The candles show ‘Northern Doji’. this is a bullish pattern signal. The currency 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 | 1.32182 |
| 2nd High | 1.32135 |
| Next High | 1.31973 |
| Current Price | 1.32291 |
| Next Low | 1.31237 |
| 2nd Low | 1.3095 |
| 3rd Low | 1.308 |
1.31973 – 1.32135 – 1.31152 – 1.31237 – 1.31528 – 1.3095 —
1.32194 – 1.32295 —
54.341288669559 – 59.938632626855 —
– —
1.31973 – 1764144000
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji – – – – – – – – –