GBP/USD – 1H – SELLThe combination British Pound/US Dollar (GBP/USD) goes from the bearish trendline down.
A continuation of the downtrend down to the next support level at 1.34826 will persist.
Caution: A possible reversal of the trend in the direction of resistance at 1.35302 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Northern Doji’ candlestick chart pattern is detected. The candles form ‘Northern Doji’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.35645 |
| 2nd High | 1.35437 |
| Next High | 1.35302 |
| Current Price | 1.33860 |
| Next Low | 1.34826 |
| 2nd Low | 1.34162 |
| 3rd Low | 1.33899 |
1.35302 – 1.34926 – 1.35437 – 1.34826 – 1.34162 – 1.3434 — 36.000697634733 – 34.642424085316 — 83.768440157441 – 96.069546710605 – 64.944247903712 – 81.594156587185
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji – – –