GBP/USD – 1H – BUYThe currency pair British Pound/US Dollar (GBP/USD) jumps from the bullish trendline downwards
A bearish movement downwards to the next support line at 1.26296 is considered certain.
Caution: A possible counter-trend in the direction of the resistance level at 1.27873 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Matching Low’ candle pattern is existing. The candles show ‘Matching Low’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.28109 |
| 2nd High | 1.27988 |
| Next High | 1.27873 |
| Current Price | 1.26687 |
| Next Low | 1.26296 |
| 2nd Low | 1.26171 |
| 3rd Low | 1.25246 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Matching Low