GBP/USD – 4H – SELLThe currency pair British Pound/US Dollar (GBP/USD) jumps from the descending trendline downwards
A continuation of the downtrend downwards to the next support level at 1.23521 is certain.
Caution: A possible change in the direction of resistance at 1.26073 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three Black Crows’ chart pattern is found. The candles show ‘Three Black Crows’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27873 |
| 2nd High | 1.27283 |
| Next High | 1.26073 |
| Current Price | 1.24803 |
| Next Low | 1.23521 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows