GBP/USD – 1H – SELLThe pair British Pound/US Dollar (GBP/USD) jumps from the ascending trendline down.
A bearish descent downwards to the next support at 1.37494 is expected.
Caution: A possible trend reversal in the direction of the resistance level at 1.38686 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Matching Low’ candlestick chart pattern is discovered. The candles show ‘Matching Low’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.38686 |
| Current Price | 1.38373 |
| Next Low | 1.37494 |
| 2nd Low | 1.36635 |
| 3rd Low | 1.36426 |
1.38686 – 1.37127 – 1.36817 – 1.37494 – 1.36635 – 1.36426 —
1.38108 – 1.38398 —
59.046598122109 – 62.701460009656 —
– —
1.38686 – 1769551200
Trading Signals: FOREX – GBP – GBP/USD – USD – Matching Low – – – – – – – – –