GBP/USD – 30M – BUYThe pair British Pound/US Dollar (GBP/USD) jumps from the ascending trendline down.
The bearish trend down to the next support level at 1.26362 will continue.
Caution: A possible counter-trend in the direction of resistance at 1.26993 could occur.
Consider stop-loss settings accordingly.
There is also a ‘Matching Low’ candlestick pattern is existing. The chart shows ‘Matching Low’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27459 |
| 2nd High | 1.27222 |
| Next High | 1.26993 |
| Current Price | 1.26808 |
| Next Low | 1.26362 |
| 2nd Low | 1.26171 |
| 3rd Low | 1.25663 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Matching Low