GBP/USD – 1H – BUY

Additionally a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is discovered. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which is often a bearish chart scenario. The pair is likely to go down.

Additionally a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. which could be a negative chart signal. The pair is likely to go down.

Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Current target is 1.3070277 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the support zone at 1.31088 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘Matching Low’ chart pattern is detected. The candles form ‘Matching Low’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ going up is 61% (Bull & Bear Market).

1.31088 – 1.31231 – 1.3176 – 1.30382 – 1.3037 – 1.31332 —
1.30956 – 1.31152 —
49.416226446266 – 60.047833511056 —
– —
1.31088 – 1763758800

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