GBP/USD – 4H – SELLThe currency pair British Pound/US Dollar (GBP/USD) jumps from the descending trendline downwards
A continuation of the downward movement downwards to the next support at 1.34538 is likely expected.
Caution: A possible change in the direction of the resistance level at 1.35757 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Matching Low’ candlestick pattern is existing. The candles form ‘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’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37116 |
| 2nd High | 1.35989 |
| Next High | 1.35757 |
| Current Price | 1.35533 |
| Next Low | 1.34538 |
| 2nd Low | 1.34472 |
| 3rd Low | 1.33804 |
1.35757 – 1.35989 – 1.35892 – 1.34538 – 1.34472 – 1.34746 —
1.36117 – 1.35982 —
66.415268286702 – 51.849894229908 —
– —
1.35757 – 1777291200
Trading Signals: FOREX – GBP – GBP/USD – USD – Matching Low – – – – – – – – –