GBP/USD – 30M – SELLThe combination British Pound/US Dollar (GBP/USD) jumps from the ascending trendline downwards
A descent downwards to the next support at 1.25065 is certain.
Caution: A possible counter-trend in the direction of resistance at 1.25597 could occur.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bearish Belt Hold’ candlestick chart pattern is detected. The chart shows ‘Bearish Belt Hold’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.26136 |
| 2nd High | 1.26073 |
| Next High | 1.25597 |
| Current Price | 1.25350 |
| Next Low | 1.25065 |
| 2nd Low | 1.25045 |
| 3rd Low | 1.25010 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish Belt Hold