GBP/USD – 30M – BUYCorrection of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 1.339245 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support level at 1.34607 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Northern Doji’ candle chart pattern is found. 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 success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.34891 |
| 2nd High | 1.34828 |
| Next High | 1.34607 |
| Current Price | 1.34264 |
| Next Low | 1.33976 |
| 2nd Low | 1.33831 |
| 3rd Low | 1.33242 |
1.34607 – 1.34254 – 1.34326 – 1.33976 – 1.33831 – 1.33242 —
1.34595 – 1.34354 —
66.964550368148 – 40.778895683798 —
– —
1.34607 – 1781492400
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji – – – – – – – – –