GBP/USD – 30M – SELLAdditionally a ‘Double bottom retreat down’ chart pattern is discovered. The chart picture forms ‘Double bottom retreat down’. which is a negative chart scenario. The currency pair is likely to go down.
The combination British Pound/US Dollar (GBP/USD) goes from the bearish trendline downwards
A continuation of the downtrend downwards to the next support line at 1.30382 is certain.
Caution: A possible trend reversal in the direction of the resistance line at 1.3102 could occur.
Consider stop-loss settings accordingly.
Additionally a ‘%K crosses below %D’ indicator layout is existing. The indicator is ‘%K crosses below %D’. which could be a negative chart signal. The currency pair could go down.
Additionally a ‘Northern Doji’ candlestick chart pattern is detected. The chart shows ‘Northern Doji’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.31544 |
| 2nd High | 1.31231 |
| Next High | 1.3102 |
| Current Price | 1.31018 |
| Next Low | 1.30382 |
| 2nd Low | 1.3037 |
| 3rd Low | 1.30111 |
1.3102 – 1.31231 – 1.31544 – 1.30382 – 1.30491 – 1.3037 —
1.31067 – 1.31045 —
56.894018742201 – 59.566936238337 —
– —
1.31020 – 1763721000
Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji – Double bottom retreat down – – – – – – – –