GBP/USD – 4H – SELLThe pair British Pound/US Dollar (GBP/USD) goes from the ascending trendline down.
A bearish movement down to the next support line at 1.26067 is considered certain.
Caution: A possible counter-trend in the direction of the resistance level at 1.27873 could happen.
Consider stop-loss settings accordingly.
Next a ‘Bearish SBS White Lines’ candle chart pattern is detected. The candles show ‘Bearish SBS White Lines’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.30476 |
| 2nd High | 1.28109 |
| Next High | 1.27873 |
| Current Price | 1.26930 |
| Next Low | 1.26067 |
| 2nd Low | 1.24870 |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish SBS White Lines