GBP/USD – 4H – BUY

The currency pair British Pound/US Dollar (GBP/USD) jumps from the ascending trendline up.

A continuation of the bullish trend upwards to the next resistance line at 1.35989 is expected.

Caution: A possible trend reversal in the direction of support at 1.34727 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is found. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish chart scenario. The pair is likely to go up.

Next a ‘Resistance Level’ indicator signal is existing. The indicator shows ‘Resistance Level’. which could be a positive chart signal. The currency pair is likely to rise.

Next a ‘Northern Doji’ candle pattern is discovered. The chart forms ‘Northern Doji’. which is a positive 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).

1.35989 – 1.35892 – 1.3484 – 1.34727 – 1.33804 – 1.31779 —
1.35273 – 1.35394 —
49.486526226369 – 44.853033973871 —
– —
1.35989 – 1776441600

Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji – – – – – – – – –