GBP/USD – 1H – SELLThe pair British Pound/US Dollar (GBP/USD) moves from the bearish trendline down.
A continuation of the downtrend down to the next support level at 1.34746 is considered certain.
Caution: A possible trend reversal in the direction of resistance at 1.35394 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Bearish Belt Hold’ candle pattern is detected. The chart shows ‘Bearish Belt Hold’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.35989 |
| 2nd High | 1.35441 |
| Next High | 1.35394 |
| Current Price | 1.35024 |
| Next Low | 1.34746 |
| 2nd Low | 1.34727 |
| 3rd Low | 1.33804 |
1.35394 – 1.35441 – 1.35989 – 1.34746 – 1.34727 – 1.35043 —
1.35142 – 1.35352 —
47.937218914939 – 53.62101844522 —
– —
1.35394 – 1776790800
Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish Belt Hold – Symmetrical Triangle Chart Pattern – – – – – – – –