GBP/USD – 30M – SELLThe combination British Pound/US Dollar (GBP/USD) goes from the descending trendline down.
A continuation of the bearish trend down to the next support at 1.31906 will persist.
Caution: A possible trend reversal in the direction of the resistance level at 1.32239 is within the realm of possibility.
Consider stop-loss settings accordingly.
Moreover a ‘Collapsing Doji Star’ candle pattern is detected. The candles show ‘Collapsing Doji Star’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Collapsing Doji Star’ going down is 63% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.33322 |
| 2nd High | 1.32823 |
| Next High | 1.32239 |
| Current Price | 1.31872 |
| Next Low | 1.31906 |
| 2nd Low | 1.31586 |
| 3rd Low | 1.31237 |
1.32239 – 1.32823 – 1.33322 – 1.31906 – 1.31586 – 1.31734 —
1.32169 – 1.32627 —
54.135756236463 – 73.644336399811 —
– —
1.32239 – 1774931400
Trading Signals: FOREX – GBP – GBP/USD – USD – Collapsing Doji Star – – – – – – – – –