GBP/USD – 1H – BUYThe combination British Pound/US Dollar (GBP/USD) jumps from the bullish trendline down.
A bearish descent downwards to the next support line at 1.26296 is expected.
Caution: A possible counter-trend in the direction of the resistance zone at 1.27705 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Matching Low’ candle chart pattern is detected. The candles show ‘Matching Low’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.30476 |
| 2nd High | 1.30091 |
| Next High | 1.27705 |
| Current Price | 1.27594 |
| Next Low | 1.26296 |
| 2nd Low | 1.26171 |
| 3rd Low | 1.25246 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Matching Low