GBP/USD – 1H – SELLAnd also a ‘Rising Wedge Chart Pattern’ chart layout is found. The chart picture shows ‘Rising Wedge Chart Pattern’. this is a bearish chart scenario. The currency pair is likely to go down.
The combination British Pound/US Dollar (GBP/USD) moves from the bullish trendline downwards
A bearish movement downwards to the next support at 1.34913 will continue.
Caution: A possible trend reversal in the direction of resistance at 1.35674 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Tweezers Top’ candle pattern is detected. The chart shows ‘Tweezers Top’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.36712 |
| 2nd High | 1.36602 |
| Next High | 1.35674 |
| Current Price | 1.35050 |
| Next Low | 1.34913 |
| 2nd Low | 1.34138 |
| 3rd Low | 1.34013 |
1.35674 – 1.35017 – 1.34908 – 1.34913 – 1.34138 – 1.34013 —
1.35003 – 1.35132 —
43.219812232357 – 49.593879633198 —
– —
1.35674 – 1767690000
Trading Signals: FOREX – GBP – GBP/USD – USD – Tweezers Top – Rising Wedge Chart Pattern – – – – – – – –