GBP/USD – 30M – BUYThe pair British Pound/US Dollar (GBP/USD) goes from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support line at 1.26354 is likely expected.
Caution: A possible trend reversal in the direction of resistance at 1.26984 could happen.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Matching Low’ candle chart pattern is existing. The chart shows ‘Matching Low’. which is a positive 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 | 1.27988 |
| 2nd High | 1.27873 |
| Next High | 1.26984 |
| Current Price | 1.26891 |
| Next Low | 1.26354 |
| 2nd Low | 1.26067 |
| 3rd Low | 1.25663 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Matching Low