GBP/USD – 1H – SELLThe currency pair British Pound/US Dollar (GBP/USD) goes from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support line at 1.24744 will continue.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.25690 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three Black Crows’ candlestick chart pattern is detected. The candles show ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.26136 |
| 2nd High | 1.26073 |
| Next High | 1.25690 |
| Current Price | 1.24462 |
| Next Low | 1.24744 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows