GBP/USD – 1H – SELLAdditionally a ‘Symmetrical Triangle Chart Pattern’ chart formation is discovered. The chart picture shows ‘Symmetrical Triangle Chart Pattern’. this is a bearish chart scenario. The pair is likely to go down.
The pair British Pound/US Dollar (GBP/USD) moves from the ascending trendline down.
The bearish trend downwards to the next support level at will continue.
Caution: A possible change in the direction of the resistance line at 1.35629 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is detected. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. this is usually a bearish signal. The pair is likely to go down.
Additionally a ‘Matching Low’ chart pattern is existing. The candles form ‘Matching Low’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.35943 |
| 2nd High | 1.35898 |
| Next High | 1.35629 |
| Current Price | 1.35142 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.35629 – 1.35898 – 1.3556 – 1.35126 – 1.34826 – 1.34162 — 39.712796508362 – 39.239257584008 — 0 – 0 – 9.3863216889143 – 3.1822436154566
Trading Signals: FOREX – GBP – GBP/USD – USD – Matching Low – Symmetrical Triangle Chart Pattern – –