GBP/USD – 30M – SELLThe combination British Pound/US Dollar (GBP/USD) jumps from the ascending trendline down.
A bearish descent downwards to the next support level at 1.34898 is considered certain.
Caution: A possible change in the direction of the resistance level at 1.35364 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Tweezers Top’ candle pattern is existing. The candles show ‘Tweezers Top’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.35810 |
| 2nd High | 1.35655 |
| Next High | 1.35364 |
| Current Price | 1.34993 |
| Next Low | 1.34898 |
| 2nd Low | 1.34559 |
| 3rd Low | 1.34516 |
1.35364 – 1.35655 – 1.35810 – 1.34898 – 1.34559 – 1.35241
Trading Signals: FOREX – GBP – GBP/USD – USD – Tweezers Top