GBP/USD – 1H – SELLMoreover a ‘Rising Wedge Chart Pattern’ chart formation is existing. The chart picture shows ‘Rising Wedge Chart Pattern’. this is a bearish pattern signal. The pair is likely to go down.
The combination British Pound/US Dollar (GBP/USD) jumps from the ascending trendline downwards
A descent down to the next support line at 1.341 is expected.
Caution: A possible counter-trend in the direction of resistance at 1.3483 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Current target is 1.33828 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support zone at 1.3483 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.35074 |
| 2nd High | 1.34902 |
| Next High | 1.3483 |
| Current Price | 1.34265 |
| Next Low | 1.341 |
| 2nd Low | 1.32826 |
| 3rd Low | 1.32528 |
1.3483 – 1.34092 – 1.33864 – 1.341 – 1.32826 – 1.33109 —
1.34202 – 1.34557 —
47.065758906053 – 56.859456720375 —
– —
1.3483 – 1773140400
Trading Signals: FOREX – GBP – GBP/USD – USD – – Rising Wedge Chart Pattern – – – – – – – –