GBP/USD – 1H – SELLThe pair British Pound/US Dollar (GBP/USD) goes from the bearish trendline down.
A continuation of the bearish trend downwards to the next support line at 1.35204 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.35943 is within the realm of possibility.
Consider stop-loss settings accordingly.
Moreover a ‘Support Level’ indicator layout is detected. The indicator is ‘Support Level’. which could be a negative chart scenario. The currency pair could go down.
Moreover a ‘Northern Doji’ candle pattern is detected. The candles form ‘Northern Doji’. 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 likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37522 |
| 2nd High | 1.36809 |
| Next High | 1.35943 |
| Current Price | 1.35459 |
| Next Low | 1.35204 |
| 2nd Low | 1.33699 |
| 3rd Low | 1.33344 |
1.35943 – 1.36809 – 1.36755 – 1.35204 – 1.35595 – 1.35854 — 51.238538631364 – 45.582730348397 — 100 – 89.229704797048 – 100 – 96.409901599016
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji – – –