GBP/USD – 30M – SELLThe pair British Pound/US Dollar (GBP/USD) jumps from the bearish trendline down.
A continuation of the bearish trend downwards to the next support at 1.37034 will continue.
Caution: A possible change in the direction of the resistance level at 1.37884 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Matching Low’ candlestick chart pattern is detected. The candles show ‘Matching Low’. which 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 ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.37884 |
| Current Price | 1.37427 |
| Next Low | 1.37034 |
| 2nd Low | 1.36739 |
| 3rd Low | 1.35903 |
1.37884 – 1.37488 – 1.37403 – 1.37034 – 1.36739 – 1.36827
Trading Signals: FOREX – GBP – GBP/USD – USD – Matching Low –