GBP/USD – 1H – SELLThe combination British Pound/US Dollar (GBP/USD) jumps from the bearish trendline down.
A continuation of the downward movement down to the next support level at 1.26660 will persist.
Caution: A possible trend reversal in the direction of resistance at 1.27283 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Three Line Strike – Bearish’ candlestick pattern is existing. The candles form ‘Three Line Strike – Bearish’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Line Strike – Bearish’ going down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27988 |
| 2nd High | 1.27873 |
| Next High | 1.27283 |
| Current Price | 1.26911 |
| Next Low | 1.26660 |
| 2nd Low | 1.26067 |
| 3rd Low | 1.25246 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Line Strike – Bearish