GBP/USD – 30M – SELLThe combination British Pound/US Dollar (GBP/USD) goes from the bearish trendline down.
A continuation of the downtrend downwards to the next support at 1.34676 is likely expected.
Caution: A possible change in the direction of the resistance line at 1.34926 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 1.34558772 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support level at 1.34926 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Matching Low’ candlestick pattern is discovered. The chart forms ‘Matching Low’. 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 ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.35267 |
| 2nd High | 1.35203 |
| Next High | 1.34926 |
| Current Price | 1.34758 |
| Next Low | 1.34676 |
| 2nd Low | 1.34340 |
| 3rd Low | 1.33899 |
1.34926 – 1.34900 – 1.35203 – 1.34676 – 1.34340 – 1.34446 — 49.460085173817 – 49.076950911592 — 47.60965344907 – 34.691260603669 – 55.140176673023 – 48.080927642971
Trading Signals: FOREX – GBP – GBP/USD – USD – Matching Low – – –