GBP/USD – 30M – BUYThe pair British Pound/US Dollar (GBP/USD) jumps from the bullish trendline down.
The bearish trend downwards to the next support line at 1.33330 is expected.
Caution: A possible change in the direction of the resistance zone at 1.34023 could occur.
Consider stop-loss settings accordingly.
Also there is a ‘Shooting Star’ candlestick pattern is existing. The chart forms ‘Shooting Star’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Shooting Star’ going down is 59% (Bull Market) & 60% (Bear Market).
Also there is a ‘Resistance Level’ indicator signal is found. The indicator shows ‘Resistance Level’. which is often a bearish chart signal. The pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.34205 |
| 2nd High | 1.34141 |
| Next High | 1.34023 |
| Current Price | 1.33334 |
| Next Low | 1.33330 |
| 2nd Low | 1.32599 |
| 3rd Low | 1.32551 |
1.34023 – 1.33360 – 1.33304 – 1.33330 – 1.32599 – 1.32698
Trading Signals: FOREX – GBP – GBP/USD – USD – Shooting Star