GBP/USD – 30M – BUYThe pair British Pound/US Dollar (GBP/USD) jumps from the bearish trendline downwards
A continuation of the downtrend down to the next support level at 1.25010 is likely expected.
Caution: A possible change in the direction of the resistance line at 1.25359 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Matching Low’ candlestick chart pattern is found. The chart shows ‘Matching Low’. which is a bullish pattern signal. The currency pair is likely to rise. 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 | 1.25743 |
| 2nd High | 1.25501 |
| Next High | 1.25359 |
| Current Price | 1.25226 |
| Next Low | 1.25010 |
| 2nd Low | 1.24744 |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Matching Low