GBP/USD – 1H – SELLAdditionally a ‘Double top chart pattern’ chart formation is discovered. The chart picture shows ‘Double top chart pattern’. which is a bearish chart scenario. The pair is likely to go down.
The combination British Pound/US Dollar (GBP/USD) goes from the descending trendline downwards
A continuation of the downward movement down to the next support level at 1.365 will continue.
Caution: A possible change in the direction of the resistance level at 1.37327 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Matching Low’ candle pattern is existing. The candles show ‘Matching Low’. 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 success rate of a ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.38473 |
| 2nd High | 1.37875 |
| Next High | 1.37327 |
| Current Price | 1.36493 |
| Next Low | 1.365 |
| 2nd Low | 1.36227 |
| 3rd Low | 1.34015 |
1.37327 – 1.37149 – 1.37875 – 1.365 – 1.36227 – 1.3742 —
1.37241 – 1.36623 —
57.297807193131 – 40.781055986252 —
– —
1.37327 – 1770202800
Trading Signals: FOREX – GBP – GBP/USD – USD – Matching Low – Double top chart pattern – – – – – – – –