GBP/USD – 1H – BUYThe combination British Pound/US Dollar (GBP/USD) goes from the ascending trendline downwards
A bearish movement down to the next support level at 1.26067 will persist.
Caution: A possible change in the direction of the resistance zone at 1.27873 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Three Outside Down’ candlestick chart pattern is discovered. The candles show ‘Three Outside Down’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.28109 |
| 2nd High | 1.27988 |
| Next High | 1.27873 |
| Current Price | 1.26884 |
| Next Low | 1.26067 |
| 2nd Low | 1.25246 |
| 3rd Low | 1.25067 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Down