GBP/USD – 30M – SELLThe pair British Pound/US Dollar (GBP/USD) goes from the descending trendline downwards
A continuation of the downward movement downwards to the next support line at 1.24099 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.25401 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Tweezers Top’ candle pattern is found. The candles show ‘Tweezers Top’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.25690 |
| 2nd High | 1.25542 |
| Next High | 1.25401 |
| Current Price | 1.24356 |
| Next Low | 1.24099 |
| 2nd Low | 1.23878 |
| 3rd Low | 1.23521 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Tweezers Top