GBP/USD – 30M – BUYCorrection of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 1.270005 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support level at 1.27612 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Matching Low’ candlestick chart pattern is detected. The chart forms ‘Matching Low’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.28732 |
| 2nd High | 1.27705 |
| Next High | 1.27612 |
| Current Price | 1.27273 |
| Next Low | 1.26296 |
| 2nd Low | 1.26171 |
| 3rd Low | 1.25663 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Matching Low