GBP/USD – 1H – SELL

There is also a ‘Double bottom retreat down’ chart pattern is discovered. The chart forms ‘Double bottom retreat down’. which is a bearish signal. The currency pair is likely to fall.

The currency pair British Pound/US Dollar (GBP/USD) jumps from the descending trendline downwards

A continuation of the bearish trend downwards to the next support level at 1.35342 will persist.

Caution: A possible counter-trend in the direction of the resistance level at 1.36026 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘Northern Doji’ candle chart pattern is discovered. The chart forms ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

1.36026 – 1.36321 – 1.35810 – 1.35342 – 1.35161 – 1.35224

Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji