GBP/USD – 30M – BUYBesides a ‘Support Level’ indicator signal is existing. The indicator shows ‘Support Level’. which is often a bearish signal. The pair is likely to go down.
Correction of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Current target is 1.3609 at the Fibonacci level 1-Level. Caution: A possible counter-trend in the direction of the support line at 1.37116 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Southern Doji’ candlestick pattern is found. The candles form ‘Southern Doji’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Southern Doji’ heading up is 51% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37875 |
| 2nd High | 1.37327 |
| Next High | 1.37116 |
| Current Price | 1.36245 |
| Next Low | 1.36152 |
| 2nd Low | 1.3609 |
| 3rd Low | 1.3586 |
1.37116 – 1.36961 – 1.37 – 1.36152 – 1.3609 – 1.36309 —
1.36263 – 1.36367 —
39.664205431855 – 44.513621896494 —
1.36152 – 1770861600 —
1.37116 – 1770813000
Trading Signals: FOREX – GBP – GBP/USD – USD – Southern Doji – Double top retreat up – – – – – – – –