GBP/USD – 30M – BUYCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 1.26011704 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support level at 1.27181 is also possible.
Consider stop-loss settings accordingly.
In addition a ‘Matching Low’ candle chart pattern is detected. The chart shows ‘Matching Low’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27283 |
| 2nd High | 1.27253 |
| Next High | 1.27181 |
| Current Price | 1.26372 |
| Next Low | 1.25619 |
| 2nd Low | 1.25246 |
| 3rd Low | 1.25067 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Matching Low