GBP/USD – 30M – BUYThen a ‘Latter Bottom’ candlestick pattern is discovered. The chart shows ‘Latter Bottom’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Latter Bottom’ heading up is 56% (Bull Market) & 51% (Bear Market).
Then a ‘Double top chart pattern’ chart layout is discovered. The chart shows ‘Double top chart pattern’. which is a negative pattern signal. The currency pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.33767 |
| 2nd High | 1.33558 |
| Next High | 1.33446 |
| Current Price | 1.32343 |
| Next Low | 1.32333 |
| 2nd Low | 1.32188 |
| 3rd Low | 1.32024 |
1.33446 – 1.33558 – 1.33767 – 1.32409 – 1.32797 – 1.33225
Trading Signals: FOREX – GBP – GBP/USD – USD – Latter Bottom