GBP/USD – 30M – SELLNext a ‘Symmetrical Triangle Chart Pattern’ chart pattern is detected. The chart picture shows ‘Symmetrical Triangle Chart Pattern’. which is a negative pattern signal. The currency pair is likely to go down.
The pair British Pound/US Dollar (GBP/USD) goes from the ascending trendline down.
A bearish trend downwards to the next support level at 1.35119 is expected.
Caution: A possible change in the direction of resistance at 1.3569 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Matching Low’ candle pattern is existing. The chart shows ‘Matching Low’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.36035 |
| 2nd High | 1.3601 |
| Next High | 1.3569 |
| Current Price | 1.35245 |
| Next Low | 1.35119 |
| 2nd Low | 1.34538 |
| 3rd Low | 1.34532 |
1.3569 – 1.3601 – 1.36035 – 1.35119 – 1.3523 – 1.3568 —
1.35366 – 1.35319 —
39.534084840434 – 42.309449124255 —
– —
1.3569 – 1777915800
Trading Signals: FOREX – GBP – GBP/USD – USD – Matching Low – Symmetrical Triangle Chart Pattern – – – – – – – –