GBP/USD – 1H – SELL

Also there is a ‘Double bottom retreat down’ chart formation is existing. The chart shows ‘Double bottom retreat down’. which is a negative signal. The pair is likely to go down.

The pair British Pound/US Dollar (GBP/USD) moves from the bullish trendline down.

A descent downwards to the next support line at 1.33825 will persist.

Caution: A possible reversal of the trend in the direction of the resistance zone at 1.34764 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Also there is a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is detected. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. which could be a negative signal. The pair is likely to go down.

Also there is a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. which is often a bearish signal. The currency pair could go down.

Also there is a ‘Matching Low’ chart pattern is detected. The chart forms ‘Matching Low’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ going up is 61% (Bull & Bear Market).

1.34764 – 1.34761 – 1.36220 – 1.33825 – 1.34150 – 1.35342

Trading Signals: FOREX – GBP – GBP/USD – USD – Matching Low