GBP/USD – 4H – SELL

The currency pair British Pound/US Dollar (GBP/USD) moves from the bearish trendline downwards

A continuation of the downtrend down to the next support level at 1.32528 is certain.

Caution: A possible reversal of the trend in the direction of the resistance zone at 1.35748 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend is certain. Current target is 1.32528 at the Fibonacci level 1-Level. Caution: A possible reversal of the trend in the direction of the support level at 1.35748 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Matching Low’ candle chart pattern is existing. The candles form ‘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 likelyhood of ‘Matching Low’ going up is 61% (Bull & Bear Market).

1.35748 – 1.37116 – 1.37 – 1.32528 – 1.34337 – 1.359 —
1.33864 – 1.33724 —
44.831729943644 – 46.413443770384 —
– —
1.35748 – 1772078400

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