GBP/USD – 1H – SELLThe pair British Pound/US Dollar (GBP/USD) goes from the bullish trendline down.
A descent downwards to the next support level at will continue.
Caution: A possible reversal of the trend in the direction of resistance at 1.24938 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Collapsing Doji Star’ chart pattern is existing. The chart forms ‘Collapsing Doji Star’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Collapsing Doji Star’ going down is 63% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.26073 |
| 2nd High | 1.25754 |
| Next High | 1.24938 |
| Current Price | 1.22286 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Collapsing Doji Star