GBP/USD – 4H – SELLAlso there is a ‘Symmetrical Triangle Chart Pattern’ chart formation is detected. The chart forms ‘Symmetrical Triangle Chart Pattern’. this is a bearish signal. The currency pair is likely to fall.
The pair British Pound/US Dollar (GBP/USD) jumps from the bullish trendline down.
A bearish movement downwards to the next support level at 1.34013 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.3536 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Northern Doji’ candle pattern is existing. 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 likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.35898 |
| 2nd High | 1.35822 |
| Next High | 1.3536 |
| Current Price | 1.34804 |
| Next Low | 1.34013 |
| 2nd Low | 1.33113 |
| 3rd Low | 1.32871 |
1.35302 – 1.35339 – 1.34459 – 1.34013 – 1.33113 – 1.33417 —
1.35616 – 1.35163 —
67.42977297733 – 49.939647322997 —
– —
1.35302 – 1767096000
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji – Symmetrical Triangle Chart Pattern – – – – – – – –