GBP/USD – 1H – BUYThe pair British Pound/US Dollar (GBP/USD) moves from the bearish trendline down.
A continuation of the bearish trend downwards to the next support line at is certain.
Caution: A possible counter-trend in the direction of the resistance zone at 1.24938 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Matching Low’ candlestick chart pattern is existing. The chart forms ‘Matching Low’. this is a bullish 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’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.26073 |
| 2nd High | 1.25754 |
| Next High | 1.24938 |
| Current Price | 1.22085 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Matching Low