GBP/USD – 4H – SELLThe pair British Pound/US Dollar (GBP/USD) goes from the descending trendline downwards
A continuation of the downward movement down to the next support line at 1.25010 is expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.27283 could occur.
Consider stop-loss settings accordingly.
Then a ‘Three Black Crows’ candlestick pattern is detected. The candles show ‘Three Black Crows’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.28109 |
| 2nd High | 1.27873 |
| Next High | 1.27283 |
| Current Price | 1.25192 |
| Next Low | 1.25010 |
| 2nd Low | 1.24744 |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows